Company Overview

Valero Energy Corporation is an independent downstream energy company primarily engaged in petroleum refining, renewable diesel production, and ethanol manufacturing. It operates in the refining and marketing, renewable fuels, and ethanol industries, supplying transportation fuels and related products to wholesale, retail, and commercial customers. Valero’s core revenue drivers are the sale of refined petroleum products such as gasoline, distillates, jet fuel, and petrochemical feedstocks, as well as renewable diesel and ethanol sold into domestic and international markets.

The company serves customers across North America, Europe, and parts of Latin America, with a strong focus on high‑consumption fuel markets and export hubs. Valero’s strategic advantages include a large, complex refinery system capable of processing discounted heavy and sour crude oils, extensive logistics infrastructure, and an integrated approach to conventional and low‑carbon fuels. Founded in 1980 and headquartered in San Antonio, Texas, Valero evolved from a regional refiner into one of the world’s largest independent refining companies through organic expansions and acquisitions, including the transformational acquisition of Premcor Inc. in 2005.

Business Operations

Valero operates through three primary business segments: Refining, Renewable Diesel, and Ethanol. The Refining segment is the largest contributor to revenue and earnings, consisting of petroleum refineries located in the United States, Canada, and the United Kingdom, with a combined throughput capacity exceeding three million barrels per day based on publicly reported capacity figures. These refineries produce gasoline, distillates, jet fuel, asphalt, and other refined products sold to wholesale markets and through distribution partners.

The Renewable Diesel segment is conducted primarily through Diamond Green Diesel, a joint venture with Darling Ingredients, Inc., which produces renewable diesel from waste fats, oils, and greases. The Ethanol segment includes multiple dry‑mill ethanol plants located in the U.S. Midwest, producing ethanol, distillers grains, and corn oil. Valero also controls logistics assets such as pipelines, terminals, and docks, and maintains long‑term commercial relationships with crude oil suppliers, product marketers, and export customers.

Strategic Position & Investments

Valero’s strategy emphasizes operational excellence, disciplined capital allocation, and returns to shareholders, while selectively investing in low‑carbon fuels that complement its existing infrastructure. Growth initiatives have focused on expanding renewable diesel capacity, improving refinery reliability and efficiency, and maintaining cost advantages through feedstock flexibility. Major investments include expansions at Diamond Green Diesel facilities and ongoing refinery optimization projects across its system.

The company’s notable subsidiaries and investments include Valero Refining Group, Valero Renewable Fuels Company, and its joint ownership stake in Diamond Green Diesel Holdings LLC. Valero is also involved in emerging energy transition areas such as carbon intensity reduction, renewable feedstocks, and efficiency technologies, while maintaining a clear emphasis on assets and projects that generate competitive returns within its core competencies.

Geographic Footprint

Valero’s headquarters is located in San Antonio, Texas, and its primary operations are concentrated in North America. The company operates refineries across the U.S. Gulf Coast, Midwest, West Coast, and U.S. East Coast, as well as facilities in Canada and the United Kingdom. Its ethanol plants are primarily located in the Midwestern United States, close to corn supply and distribution infrastructure.

Internationally, Valero has a significant market presence through refined product exports to Latin America, Europe, and other global energy markets. Its coastal refinery locations and marine terminals provide strategic access to international trade flows, reinforcing its role as a major supplier to both domestic and overseas customers.

Leadership & Governance

Valero was founded by William R. “Bill” Greehey, who played a central role in shaping the company’s growth‑through‑acquisition strategy during its early decades. The current leadership team emphasizes operational discipline, safety, and long‑term shareholder value, with a governance framework aligned to public company best practices and oversight by an independent board of directors.

Key executives include:

• R. Lane Riggs – Chairman of the Board, President, and Chief Executive Officer
• Mary L. Green – Executive Vice President and Chief Financial Officer
• Gary K. Simmons – Executive Vice President and Chief Operating Officer
• Jason W. Fraser – Senior Vice President, Refining Operations
• Rob W. Wallace – Senior Vice President, Corporate Development and Strategy

The leadership team’s strategic vision centers on maintaining Valero’s position as a leading independent refiner while responsibly integrating renewable fuels and emissions‑reduction initiatives into its long‑term business model.