Overview
Valero Energy Corporation is an international energy company that manufactures and markets petroleum-based and low-carbon liquid transportation fuels, as well as petrochemical products. Its principal business segments are Refining, Renewable Diesel and Ethanol. Key products include gasoline, diesel, jet fuel, ethanol, renewable diesel and petrochemical feedstocks.[1][2]
Valero operates refineries in the United States, Canada and the United Kingdom, and ethanol plants in the United States; its products are sold primarily in the United States, Canada, the United Kingdom, Ireland and Latin America. The company describes its purpose as responsibly meeting the world’s growing demand for reliable and affordable energy.[1][3]
For fiscal 2025, Valero reported $122.7 billion in revenue from external customers. A company message in 2026 cited a workforce of more than 9,800 employees. Valero traces its origins to January 1, 1980, when it began as corporate successor to Lo-Vaca Gathering Company.[4][5][6] [1][2][3][4][5][6][5][6]
Products & services
Valero’s refining portfolio includes gasoline, diesel, jet fuel, petrochemical feedstocks and specialty products. Specialty products include asphalt, propane, natural gas liquids, sulfur, naphthenic oils, solvents, aromatics and petroleum coke. Its 15 refineries have combined throughput capacity of approximately 3.2 million barrels per day.[7][8][1]
Renewable fuels include renewable diesel, renewable naphtha and neat sustainable aviation fuel (SAF). Renewable diesel is interchangeable with petroleum diesel and meets ASTM D975; renewable naphtha can be used as gasoline blendstock or as feedstock for low-carbon petrochemicals. Neat SAF can be blended up to 50% with conventional jet fuel under current aviation rules. Diamond Green Diesel’s plants use pretreatment and hydroprocessing-isomerization and can process up to 100% waste feedstocks, including animal fats, used cooking oils and distillers corn oil. The renewable-diesel segment also sells renewable naphtha and SAF; Valero reports that Port Arthur can shift up to half of its renewable-diesel capacity to neat SAF, with potential output of up to 235 million gallons per year.[9][2][10][11]
Valero’s ethanol segment produces ethanol and distillers grains; some ethanol is transferred internally for blending into finished gasoline. The company also provides wholesale distribution of branded and unbranded gasoline, diesel and specialty fuels, with delivery, customer support and brand-program offerings. In fiscal 2025, refining, renewable diesel and ethanol represented approximately 94.7%, 2.0% and 3.3%, respectively, of external-customer revenue; these are segment-level shares, not product-specific revenue shares.[12][13][14][4] [1][9][2][12][4][4][4][4][7][8][10][11][13][14]
Geographic presence
Valero’s refining footprint spans the United States, Canada and the United Kingdom. Its 2025 year-end filing lists refinery locations in California, Louisiana, Oklahoma, Tennessee and Texas; Quebec City, Quebec; and Pembroke, Wales. Valero subsequently completed the idling of its Benicia, California, refinery in April 2026, and its current refining webpage reports 14 refineries.[15][16][17]
Valero also has two Diamond Green Diesel plants in the U.S. Gulf Coast region and 12 ethanol plants in the U.S. Mid-Continent region. Its products are sold primarily in the United States, Canada, the United Kingdom, Ireland and Latin America; its international activities also include Canada, the U.K., Ireland, Mexico and Peru.[1][18]
The company’s corporate offices are in San Antonio, Texas. Valero describes its workforce as approximately 10,000 employees; a geographic breakdown of employees was not identified.[19][20][21] [15][16][17][1][18][19][20][21][16][17][20][21]
Business segments
Valero reports three business segments: **Refining**, **Renewable Diesel**, and **Ethanol**. In 2025, Refining encompassed petroleum refining, refined-products marketing, and related logistics, with products including gasoline and blendstocks, distillates, and other products. It generated $116.158 billion, or approximately 94.7% of consolidated revenue, and $4.040 billion of operating income, about 94.9% of the sum of segment operating income.[22][23] Renewable Diesel covers low-carbon fuel operations and marketing, including renewable diesel, renewable naphtha, and neat sustainable aviation fuel (SAF). It generated $2.508 billion, or approximately 2.0% of revenue, and recorded an operating loss of $156 million.[2][23] Ethanol includes ethanol plants and the marketing of ethanol and co-products such as distillers grains. It generated $4.021 billion, or approximately 3.3% of revenue, and $374 million of operating income.[12][23]
Revenue percentages are each segment’s external-customer revenue as a share of consolidated revenue. Operating-income percentages are shares of the $4.258 billion total across the three segments; Renewable Diesel’s contribution was negative. Valero identifies these as its three reportable segments and evaluates their performance using operating income or loss.[24] [22][23][23][23][23][2][23][12][23][24]
Company history
Valero’s corporate origins date to January 1, 1980, when it became the successor to Lo-Vaca Gathering Company in a spin-off from Coastal Corporation. It commissioned its first full-scale refinery, in Corpus Christi, Texas, in 1984. In 1997, Valero separated its refining business from its legacy natural-gas business and acquired three refineries from Basis Petroleum; the following year, it acquired Mobil’s Paulsboro refinery in New Jersey.[6][25][26]
Valero merged with Ultramar Diamond Shamrock on December 31, 2001, adding six refineries, and acquired Premcor in 2005. In 2011, it acquired Chevron Limited, which owned and operated the Pembroke refinery. Valero spun off its retail business as CST Brands in 2013 and completed its acquisition of the publicly held units of Valero Energy Partners LP that it did not already own in 2019.[27][6][28][29][30] [6][25][26][27][28][29][30]
Sources
- VALERO ENERGY CORP/TX — Full financial report (2025 Y)
- www.valero.com[5]
- www.valero.com[6]
- www.valero.com[7]
- www.valero.com[8]
- www.valero.com[10]
- www.valero.com[11]
- www.valero.com[13]
- www.valero.com[14]
- www.valero.com[16]
- www.valero.com[17]
- www.valero.com[20]
- www.valero.com[21]
- content.edgar-online.com[25]
- pdf.secdatabase.com[26]
- www.sec.gov[27]
- www.sec.gov[28]
- www.sec.gov[29]
- www.sec.gov[30]
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