Valero Energy
Valero Energy Corporation is an American fuels company based in San Antonio, Texas. It makes and sells transportation fuels and related products.
Key facts:
- Refineries: 15 in North America with a combined capacity of about 3.2 million barrels per day.
- Renewable diesel: Diamond Green Diesel plants producing about 1.2 billion gallons per year.
- Ethanol: 12 plants with a combined annual output of about 1.6 billion gallons.
- Retail and branding: Supplies fuel to more than 7,000 retail locations. In the UK and Ireland, Valero uses the Texaco brand; in Mexico it has expanded to about 260 Valero-branded stations (as of 2024). The retail business was spun off in 2013 as CST Brands, though Valero still supplies fuel to many locations.
History and operations:
- Founded in 1980 as a spin-off from Coastal States Gas Corp.’s LoVaca Gathering Company. The name Valero comes from Mission San Antonio de Valero.
- Growth through major acquisitions, including Premcor (2005) and Ultramar Diamond Shamrock (2001), and the Pembroke refinery purchase in the UK (2011).
Financial snapshot (2024):
- Revenue: about $129.9 billion
- Net income: about $3.0 billion
- Total assets: about $60.1 billion
- Total equity: about $27.5 billion
- Employees: about 9,900
Renewable fuels and SAF:
- Diamond Green Diesel (with Darling Ingredients) operates two Gulf Coast plants producing about 1.2 billion gallons of renewable diesel per year.
- In 2024, Valero began producing sustainable aviation fuel (SAF) at the Port Arthur plant, reaching about 235 million gallons per year and cutting emissions by roughly 74% to 84% compared with conventional jet fuel. Major airlines have begun using SAF.
Recent developments:
- Environmental and regulatory actions have included fines and settlements, such as an $82 million air-pollution penalty in 2024 at the Benicia, California refinery and a 2020 EPA settlement to improve fuel compliance.
- The Benicia refinery was announced to be idled in 2025 and planned for shutdown in 2026 due to impairment costs.
This page was last edited on 2 February 2026, at 18:07 (CET).