# VALERO ENERGY CORP/TX

Summary updated: 2026-09-28T12:27:09.339835Z
Canonical: https://finbar.com/research/companies/valero-energy-tx

## Overview

Valero Energy Corporation is a San Antonio, Texas-based manufacturer and marketer of petroleum-based and low-carbon transportation fuels and petrochemical products. Its businesses comprise petroleum refining, renewable diesel and ethanol. Valero operates 15 refineries in the United States, Canada and the United Kingdom, while its renewable-fuel and ethanol plants are in the United States. It sells products primarily in the United States, Canada, the United Kingdom, Ireland and Latin America. [1](https://app.finbar.com/go?id=P12070260)[2](https://app.finbar.com/go?id=P118196733)

Valero says its aim is to responsibly meet growing demand for reliable and affordable energy. Its scale includes approximately 3.2 million barrels per day of refining capacity and $122.7 billion in 2025 revenue. [3](https://app.finbar.com/go?id=P72046263)[1](https://app.finbar.com/go?id=P12070260)[4](https://app.finbar.com/go?id=T4642761)
[1](https://app.finbar.com/go?id=P12070260)[2](https://app.finbar.com/go?id=P118196733)[3](https://app.finbar.com/go?id=P72046263)[4](https://app.finbar.com/go?id=T4642761)

## Products & services

Valero’s principal refinery products are gasoline and blendstocks, distillates such as diesel and jet fuel, and other products that vary by refinery, including asphalt, aromatics and fuel oil. In 2025, gasoline and blendstocks accounted for approximately 44% of refining revenue, distillates 47%, and other products 9%; these are revenue shares, not production volumes. [5](https://app.finbar.com/go?id=P51321140)[6](https://app.finbar.com/go?id=P71247703)[7](https://app.finbar.com/go?id=P111854207)

Through its Diamond Green Diesel joint venture, Valero produces renewable diesel, renewable naphtha and neat sustainable aviation fuel (SAF) from feedstocks including animal fats, used cooking oil and inedible distillers corn oil. Renewable diesel is interchangeable with petroleum diesel; renewable naphtha can be used in gasoline blending or as a petrochemical feedstock, while neat SAF can be blended with conventional jet fuel. The venture has approximately 1.2 billion gallons of annual renewable-diesel capacity and 50 million gallons of renewable-naphtha capacity; its Port Arthur facility can upgrade about half of its renewable-diesel capacity to neat SAF. [8](https://app.finbar.com/go?id=P92474572)[9](https://app.finbar.com/go?id=P109137459)[10](https://app.finbar.com/go?id=P2568344)[11](https://app.finbar.com/go?id=P84615637)

Valero’s corn-processing plants produce ethanol alongside distillers grains and syrup for animal feed and inedible distillers corn oil. Their combined ethanol capacity is approximately 1.7 billion gallons annually. Valero markets refined fuels through bulk and wholesale-rack channels, selling both unbranded fuel and fuel supplied under multiyear contracts to independently owned outlets carrying Valero-family brands. [12](https://app.finbar.com/go?id=P24902648)[13](https://app.finbar.com/go?id=P31815002)[14](https://app.finbar.com/go?id=P55827473)
[5](https://app.finbar.com/go?id=P51321140)[6](https://app.finbar.com/go?id=P71247703)[7](https://app.finbar.com/go?id=P111854207)[8](https://app.finbar.com/go?id=P92474572)[9](https://app.finbar.com/go?id=P109137459)[10](https://app.finbar.com/go?id=P2568344)[11](https://app.finbar.com/go?id=P84615637)[12](https://app.finbar.com/go?id=P24902648)[13](https://app.finbar.com/go?id=P31815002)[14](https://app.finbar.com/go?id=P55827473)

## Geographic presence

Valero Energy is headquartered in San Antonio, Texas. Its 15 refineries are in the United States, Canada and the United Kingdom: 13 in the U.S., one in Quebec City, Canada, and one in Pembroke, Wales. Its 12 ethanol plants are in the U.S. Mid-Continent, while its renewable diesel plants are in Louisiana and Texas. Valero also supplies approximately 7,000 independently owned branded fuel outlets across the U.S., Canada, the U.K., Ireland and Mexico. [15](https://app.finbar.com/go?id=P38395693)[1](https://app.finbar.com/go?id=P12070260)[16](https://app.finbar.com/go?id=T3444693)[17](https://app.finbar.com/go?id=P68899451)[12](https://app.finbar.com/go?id=P24902648)[18](https://app.finbar.com/go?id=P51768121)[14](https://app.finbar.com/go?id=P55827473)

In 2025, revenue by customer geography was $87.8 billion from the U.S. (71.6% of total), $8.1 billion from Canada (6.6%), $15.8 billion from the U.K. and Ireland combined (12.9%), $5.2 billion from Mexico and Peru combined (4.2%), and $5.7 billion from other countries (4.7%). Of Valero’s 9,811 employees at year-end 2025, 8,182 were in the U.S., 638 in Canada, 821 in the U.K. and Ireland, and 170 in Mexico and Peru. [19](https://app.finbar.com/go?id=T11834992)[20](https://app.finbar.com/go?id=T2985388)
[15](https://app.finbar.com/go?id=P38395693)[1](https://app.finbar.com/go?id=P12070260)[16](https://app.finbar.com/go?id=T3444693)[17](https://app.finbar.com/go?id=P68899451)[12](https://app.finbar.com/go?id=P24902648)[18](https://app.finbar.com/go?id=P51768121)[14](https://app.finbar.com/go?id=P55827473)[19](https://app.finbar.com/go?id=T11834992)[20](https://app.finbar.com/go?id=T2985388)

## Business segments

Valero reports three business segments. **Refining** operates petroleum refineries, markets refined products and includes supporting logistics assets; its principal products include gasoline and blendstocks and distillates. **Renewable Diesel** comprises its consolidated Diamond Green Diesel joint venture and related low-carbon-fuel marketing, with products including renewable diesel, renewable naphtha and neat sustainable aviation fuel. **Ethanol** operates ethanol plants and markets ethanol and co-products, principally distillers grains. [21](https://app.finbar.com/go?id=P45389987)[22](https://app.finbar.com/go?id=P56509613)[23](https://app.finbar.com/go?id=P69975854)[24](https://app.finbar.com/go?id=P48646318)

Based on 2025 revenue from external customers, Refining contributed approximately **94.7%** of Valero’s revenue, Renewable Diesel **2.0%**, and Ethanol **3.3%**. These shares exclude sales between segments. [4](https://app.finbar.com/go?id=T4642761)
[21](https://app.finbar.com/go?id=P45389987)[22](https://app.finbar.com/go?id=P56509613)[23](https://app.finbar.com/go?id=P69975854)[24](https://app.finbar.com/go?id=P48646318)[4](https://app.finbar.com/go?id=T4642761)[4](https://app.finbar.com/go?id=T4642761)[4](https://app.finbar.com/go?id=T4642761)

## Company history

Valero Energy Corporation was incorporated in Delaware in 1981 as Valero Refining and Marketing Company and adopted its current name in 1997. It merged with Ultramar Diamond Shamrock in 2001 and Premcor in 2005, two major steps in the expansion of its refining business. [25](https://app.finbar.com/go?id=P175746662)[26](https://app.finbar.com/go?id=P193945600)

Valero entered the ethanol business in 2009 by purchasing its first ethanol plants. In 2011, it acquired the company that owned the Pembroke refinery in Wales. In 2013, Valero separated its retail business into the independent company CST Brands, while its Diamond Green Diesel joint venture began renewable-diesel production. Joe Gorder succeeded Bill Klesse as chief executive officer in 2014. [27](https://app.finbar.com/go?id=P175746761)[28](https://app.finbar.com/go?id=P193427831)[29](https://app.finbar.com/go?id=P192332590)[30](https://app.finbar.com/go?id=P181818841)[31](https://app.finbar.com/go?id=P34951134)
[25](https://app.finbar.com/go?id=P175746662)[26](https://app.finbar.com/go?id=P193945600)[27](https://app.finbar.com/go?id=P175746761)[28](https://app.finbar.com/go?id=P193427831)[29](https://app.finbar.com/go?id=P192332590)[30](https://app.finbar.com/go?id=P181818841)[31](https://app.finbar.com/go?id=P34951134)

## Sources

1. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P12070260)
2. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P118196733)
3. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P72046263)
4. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=T4642761)
5. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P51321140)
6. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P71247703)
7. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P111854207)
8. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P92474572)
9. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P109137459)
10. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P2568344)
11. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P84615637)
12. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P24902648)
13. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P31815002)
14. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P55827473)
15. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P38395693)
16. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=T3444693)
17. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P68899451)
18. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P51768121)
19. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=T11834992)
20. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=T2985388)
21. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P45389987)
22. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P56509613)
23. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P69975854)
24. [VALERO ENERGY CORP/TX — Full financial report (2025 Y)](https://app.finbar.com/go?id=P48646318)
25. [VALERO ENERGY CORP/TX — Full financial report (2020 Y)](https://app.finbar.com/go?id=P175746662)
26. [VALERO ENERGY CORP/TX — Full financial report (2010 Y)](https://app.finbar.com/go?id=P193945600)
27. [VALERO ENERGY CORP/TX — Full financial report (2020 Y)](https://app.finbar.com/go?id=P175746761)
28. [VALERO ENERGY CORP/TX — Full financial report (2011 Y)](https://app.finbar.com/go?id=P193427831)
29. [VALERO ENERGY CORP/TX — Full financial report (2013 Y)](https://app.finbar.com/go?id=P192332590)
30. [VALERO ENERGY CORP/TX — Full financial report (2018 Y)](https://app.finbar.com/go?id=P181818841)
31. [VALERO ENERGY CORP/TX — Transcript (2014 Q 1)](https://app.finbar.com/go?id=P34951134)

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