EXHIBIT 99.2


                                                                    NEWS RELEASE
                              FOR IMMEDIATE RELEASE


              HUNTWAY REFINING COMPANY TO APPEAL THE NEW YORK STOCK
                          EXCHANGE'S DECISION TO DELIST



Newhall, Calif. (April 5, 2001) (NYSE: HWY) - Huntway Refining Company (Huntway)
announced today that it intends to timely request a review of the determination
by The New York Stock Exchange (NYSE) to delist its common stock. Huntway
anticipates that its common stock will continue to be listed on the NYSE until
at least the next scheduled review date, which Huntway understands will be
announced by the NYSE shortly, as a request for a review ordinarily stays
delisting until the review occurs.

As previously announced on March 20, 2001, Huntway and Valero Energy Corporation
(NYSE:VLO) have executed a definitive agreement under which Valero is to acquire
Huntway for an enterprise value of approximately $78 million or $1.90 in cash
per share of common stock. Huntway currently anticipates that a special meeting
of stockholders to vote on such transaction will be held by the end of May 2001
and will close shortly thereafter.

Huntway is considering its alternatives if the NYSE does not reverse its
determination to delist Huntway stock and if prior to the effective time of any
delisting the transaction with Valero has not closed.

Huntway Refining Company owns and operates two refineries at Wilmington and
Benicia, California, which primarily process California crude oil to produce
liquid asphalt for use in road construction and repair, as well as smaller
amounts of gas oil, naphtha, kerosene distillate and bunker fuels.

This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, and Huntway intends that
such forward-looking statements be subject to the safe harbors created thereby.
The timing of our special meeting of stockholders to vote on the Valero
transaction, the timing of the closing of the Valero transaction and the
occurrence of the closing of the Valero transaction are forward-looking
statements. Such forward-looking statements involve risks and uncertainties and
include, but are not limited to, such statements regarding future events and the
plans, goals and objectives of the Company. Factors that could cause or
contribute to such differences include but are not limited to whether or not the
SEC reviews the Huntway merger proxy statement with respect to the Valero
transaction and whether



the conditions to the closing of the Valero transaction contained in the merger
agreement can be satisfied; all such conditions with a few limited exceptions
are not in the control of Huntway. Our merger agreement is on file with the SEC
and we urge you to carefully review the conditions to closing contained therein.
Actual results or events may differ materially from such statements. The
inclusion of such forward-looking information should not be regarded as a
representation by the Company or any other person that the future events, plans
or expectations contemplated by the Company will be achieved. These statements
are based on our views as of the date they are made with respect to future
results or events. The Company does not undertake to publicly update or revise
its forward-looking statements even if experience or future changes make it
clear that any projected results or events expressed or implied therein will not
be realized. In addition, the merger agreement signed with Valero provides
Valero under certain circumstances (including if the closing of the transaction
has not occurred on or prior to July 31, 2001) the ability to terminate such
agreement. This press release should not be interpreted to imply that Huntway
will in fact be successful in its appeal with the NYSE, or that Huntway will be
able to close the transaction with Valero prior to the time the NYSE delists the
common stock (if the NYSE makes such a determination).