April 25 (Reuters) - Refiner Valero Energy beat

first-quarter profit estimates on Thursday, benefiting from

sustained demand as crude supplies remained tight due to

disruptions in Russia and maintenance work at U.S. refineries.

Crude supplies came under pressure as Ukrainian drone

attacks had shut about 14% of Russia's refining capacity, as of

the end of the March quarter.

Despite the disruptions, overall U.S. product supplied, a

proxy for demand, averaged at 20.10 million barrels per day

(bpd) at the end of March, compared with 19.7 million bpd a year

earlier, according to U.S. Energy Information Administration

data.

"We are pleased to report strong financial results for the

first quarter despite heavy planned maintenance across our

refining system," Valero Chief Executive Officer Lane Riggs

said in a statement.

U.S. refiners routinely schedule maintenance in the

first-quarter to prepare equipment for high demand in the summer

driving season.

Valero, which kicked off earnings for refiners, said its

margins stood at $3.53 billion in the quarter ended March 31,

compared with $5.9 billion a year earlier.

Margins and profits of U.S. refiners have normalized after

hitting sky-high levels in 2022, when Russia's invasion of

Ukraine disrupted crude supplies. Weaker economic activity and

an increase in global refining capacity have further stabilized

their earnings.

Valero's refining throughput volumes averaged 2.8 million

barrels per day in the first quarter, compared with 2.9 million

bpd a year earlier.

The refiner reported an adjusted net income of $3.82 per

share, above analysts' average estimate of $3.24 per share,

according to LSEG data.

Valero also said its sustainable aviation fuel project, DGD

Port Arthur plant, is now expected to be operational in the

fourth quarter, ahead of its earlier target of 2025.