Valero Energy Fortune 500 TURBO Report

Last updated: H1 2020

Valero Energy Corporation
One Valero Way
San Antonio, TX 78249
United States
Phone: (210)-345-2000
Website: http://www.valero.com
Sector: Energy
Industry: Oil & Gas Refining & Marketing
Full Time Employees: 10,261

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Some of the insights & detailed information you can expect to see in the Valero Energy databahn TURBO Report:

• Comprehensive Business Description
• Latest Earnings Call Highlights from the CEO
• Accurate Contacts for the Executive Leadership Team and Board of Directors
• Detailed Org Charts on corporate structure, board of directors, and the executive leadership team
• Hand curated content from selected articles, interviews, case studies, and success stories (representing dozens of hours of research)
• Technology Executive Insights to existing IT & telecom systems, projects, initiatives, and internal code names for applications, systems, and IT business units
• Insights gleaned from technology related job descriptions
• Important excerpts and highlights from the Annual Report (10-K)

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Valero Energy profit falls 32% on higher heavy crude prices

• Valero Energy Corp reported a 32.2% fall in quarterly profit as the company struggled to find low-cost heavy crude, hurting its refining margins.
• Like other U.S. refiners, Valero has been facing a lack of low-cost heavy crude in the market that has been hit by production cuts from Canada’s Alberta and the Organisation of Petroleum Exporting Countries as well as sanctions on Venezuela and Iran.

Valero, Diamond Green Diesel Announce $1.5 Billion In New Louisiana Investments

• Valero Energy Corp. subsidiary Diamond Alternative Energy and partner Darling Ingredients Inc. will make a combined $1.1 billion investment to expand their joint-venture Diamond Green Diesel refinery.
• In a separate Norco project, Valero will invest $400 million in the alkylation unit at the Valero St. Charles Refinery.

Valero Energy Is Set to Expand with Its Growth Projects

• Valero Energy is on a growth trajectory focused on an integrated value chain.
• In 2018, Valero Energy spent $2.7 billion towards its capex. Valero Energy plans to spend equally between the refining and logistics segments.
• Valero Energy has a series of projects under development in the Refining and Logistics segment. The projects are expected to contribute another $300 million–$400 million to the incremental annual EBITDA target.

Valero's Memphis plant to add workers under new deal with union

• Workers at Valero Energy Corp.'s Memphis refinery voted Tuesday night to accept a new four-year contract that will add up to 15 full-time maintenance workers at the plant.
• The local chapter of the United Steelworkers union voted to accept a deal with Valero last week.

Valero Energy finishes $950 million merger of hubs and pipeline operations in Oklahoma and other states

• Valero Energy Corp. has wrapped up a $950 million merger with a subsidiary.
• With the merger, Valero is taking over operations of Valero Energy Partners LP.

Valero profits fall $1B from last year; still beats expectations

• Valero Energy Corp. earned $3.1 billion in net income in 2018, down from $4.1 billion in 2017.
• However, the company's adjusted net income shows year-over-year improvement in the recent quarter.

Pegasus Announces Sale of Pure Biofuels Del Peru to Valero

• Pegasus Capital Advisors ("Pegasus"), Company Management and minority shareholders have sold their equity interests in Pure Biofuels Del Peru, SAC ("PBF") to a subsidiary of Valero Energy Corporation.
• PBF, as the third largest fuels importer in Peru, maintains a leading supply platform with a base of over 500 customers, including retailers, miners, and airlines.
• The transaction, which was funded with cash, also includes refined products terminals in Callao, near Lima, and in Paita, near Piura in northern Peru.