Valero Energy Corporation
 |
|
| Public | |
| Traded as | : VLO S&P 500 Component |
| Industry | Oil and gas |
| Founded | January 1, 1980 |
| Headquarters |
San Antonio, Texas United States |
|
Area served
|
North America, Caribbean |
|
Key people
|
Joseph W. Gorder (CEO) & (President) |
| Revenue |
 US$87.804 billion (2015) |
 US$6.358 billion (2015) |
|
|
US$3.99 billion (2015) |
|
| Total assets |
US$44.343 billion (2015) |
| Total equity |
US$20.527 billion (2015) |
|
Number of employees
|
10,103 (2016) |
| Website | Valero.com |
Valero Energy Corporation is a Fortune 500 international manufacturer and a marketer of transportation fuels, other petrochemical products, and power. It is headquartered in San Antonio, Texas, United States. The company owns and operates 16 refineries throughout the United States, Canada, United Kingdom, and the Caribbean with a combined throughput capacity of approximately 3 million barrels (480,000 m3) per day, 11 ethanol plants with a combined production capacity of 1.2 billion US gallons (4,500,000 m3) per year, and a 50-megawatt wind farm. Before the 2013 spinoff of CST Brands, Valero was one of the United States' largest retail operators with approximately 6,800 retail and branded wholesale outlets in the United States, Canada, United Kingdom, and the Caribbean under the Valero, Diamond Shamrock, Shamrock, Ultramar, Beacon, and Texaco brands.
Valero was created on January 1, 1980, as a spinoff of Coastal States Gas Corporation. At the time, it was the largest corporate spinoff in U.S. history. Valero took over the natural gas operations of the LoVaca Gathering Company, a defunct subsidiary of Coastal States Gas. The name Valero comes from Misión San Antonio de Valero. Valero acquired a small oil refinery in Corpus Christi, Texas in 1981, and began refining operations in 1984.
In 1997, Valero spun off its refinery and retail divisions into a separate company, which kept the Valero name. At the same time, the remaining divisions, which consisted primarily of natural gas operations, were acquired by the Pacific Gas and Electric Company. Later that year, the firm acquired Basis Petroleum, which left it with four refineries in Texas and Louisiana. In 1998, it then acquired a Paulsboro, New Jersey, refinery, the company's first outside of the Gulf Coast area.
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