Valero Energy Corporation at a Glance

Uppers

  • Valero offers good benefits, especially at corporate headquarters.
  • Many employees have flexible work schedules.

Downers

  • Not a lot of diversity.
  • Employees feel forced to give to the United Way and to volunteer.

The Bottom Line

  • Many employees say the pros outweigh the cons, but some worry about working at an oil company that stresses refining over integrated services.

About Valero Energy Corporation

Valero Energy was not only named after a mission (the Mission San Antonio de Valero), it is on a mission to be the largest independent refiner in the US. Valero churns out about 3 million barrels per day, refining low-cost residual oil and heavy crude into cleaner-burning, higher-margin products, including low-sulfur diesels. It operates 15 refineries in the US, Canada, and the UK. It also has 11 ethanol plants with a combined production capacity of about 1.4 billion gallons per year. Once a more diversified company, Valero has exited the retail business in order to focus on its oil refining and ethanol operations.

Operations

Valero operates two business segments: Refining and Ethanol. Refining accounts for some 95% of total sales and conducts refining, wholesale marketing, product supply and distribution, and transportation. Its retail and wholesale brands are Valero, Diamond Shamrock, Shamrock, Ultramar, Beacon, and Texaco. The Ethanol segment consists of sales of internally produced ethanol and distillers grains in the US.

Geographic Reach

Valero has refining and wholesale operations in Canada, Ireland, the UK, and the US. The US accounts for around 70% of the company's total revenue; Canada nearly 10%; the UK and Ireland nearly 15%; and other countries around 10%.

Sales and Marketing

The company markets branded and unbranded refined products on a wholesale basis through an extensive bulk and rack marketing network. Valero sells refined products through 5,700 branded sites in the US, 900 branded sites in the UK and Ireland, and 800 branded sites in Canada. The company sells ethanol to large customers (primarily refiners and gasoline blenders) under term and spot contracts, and in bulk markets such as New York, Chicago, the US Gulf Coast, Florida, and the US West Coast.

Valero markets branded and unbranded refined products on a wholesale basis through an extensive rack marketing network. The principal purchasers of refined products from terminal truck racks are wholesalers, distributors, retailers, and truck-delivered end users throughout the US, Canada, the UK, and Ireland.

The company delivers its product via tanker, pipeline, trucks, and rail cars.

Financial Performance

Valero's sales have taken a battering from the oil price crash, as have many or all of its peers. In fiscal 2016, sales fell a further 14% to $75.7 billion due mostly to lower average prices over the year.

Net income fell 41% to $2.4 billion due to lower revenue and tighter margins. Margins were impacted by lower discounts on light sweet crude and sour crude oil relative to Brent crude.

Cash from operations fell 14% to $4.8 billion as lower net income was partially offset by positive changes in assets and liabilities.

Strategy

Valero is pursuing a long-term strategy of ramping up its profitable businesses in the US while selling about a third of its high-cost North American refineries and other non-core US assets, in order to explore more cost-efficient projects elsewhere in the US and in faster-growing markets in Europe, the Middle East, and Asia. The company ventured into the retail fuel distribution market in Mexico in 2017, constructing three storage and distribution facilities in the country in a $200 million investment. The facilities will have total capacity of around 1.7 million barrels. It plans to construct further storage facilities across Mexico in the coming years.

In 2016, the company spent $2.6 billion on capital investments, including capital expenditures, deferred turnaround and catalyst costs, and joint venture investments. This consists of $1.6 billion for stay-in-business capital and $1 billion for growth strategies, including its continued investment in Diamond Pipeline.

Hedging its bets, Valero has also moved into the alternative fuel business. Given that ethanol is a requirement in many of the gasoline fuel mixes it sells, the company decided that it could cut costs by owning ethanol plants, rather than buying ethanol wholesale.

Mergers and Acquisitions

In 2016 Valero acquired Parkway Pipeline from Kinder Morgan. The acquisition enhances the company's ability to grow and optimize its product supply to the eastern United States.

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Company News and Press Releases

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Valero Energy Corporation

1 Valero Way
San Antonio, TX 78249-1616
Phone: 1 (210) 345-2000
Fax: 1 (210) 345-2646

Stats

  • Employer Type: Public
  • Stock Symbol: VLO
  • Stock Exchange: NYSE
  • Chairman, President, and CEO: Joseph W. Gorder
  • Chairman, President, and CEO: Joseph W. Gorder
  • VP and CIO: Cheryl Thomas
  • 2016 Employees: 9,996

Major Office Locations

  • San Antonio, TX

Other Locations

  • Mobile, AL
  • Clarksville, AR
  • Apache Junction, AZ
  • Chandler, AZ
  • Gilbert, AZ
  • Laveen, AZ
  • Mesa, AZ
  • Peoria, AZ
  • Phoenix, AZ
  • Surprise, AZ
  • Tempe, AZ
  • Tucson, AZ
  • Antioch, CA
  • Apple Valley, CA
  • Bell, CA
  • Benicia, CA
  • Brentwood, CA
  • Carpinteria, CA
  • Castroville, CA
  • Chico, CA
  • Chula Vista, CA
  • Clearlake, CA
  • Cupertino, CA
  • Dixon, CA
  • El Cajon, CA
  • Fort Bragg, CA
  • Fresno, CA
  • Garden Grove, CA
  • Gilroy, CA
  • Half Moon Bay, CA
  • Hanford, CA
  • Livermore, CA
  • Lodi, CA
  • Lompoc, CA
  • Loomis, CA
  • Los Banos, CA
  • Madera, CA
  • Mendota, CA
  • Merced, CA
  • Monterey, CA
  • Moss Landing, CA
  • Napa, CA
  • North Highlands, CA
  • Oakhurst, CA
  • Orange, CA
  • Orland, CA
  • Pacheco, CA
  • Palmdale, CA
  • Palo Alto, CA
  • Petaluma, CA
  • Pittsburg, CA
  • Placerville, CA
  • Pleasant Hill, CA
  • Sacramento, CA
  • Salinas, CA
  • San Jose, CA
  • San Lorenzo, CA
  • San Marcos, CA
  • San Martin, CA
  • Santa Cruz, CA
  • Santa Rosa, CA
  • Selma, CA
  • Spring Valley, CA
  • Sunnyvale, CA
  • Tracy, CA
  • Van Nuys, CA
  • Ventura, CA
  • Visalia, CA
  • Walnut Creek, CA
  • Watsonville, CA
  • Wilmington, CA
  • Arvada, CO
  • Aurora, CO
  • Bennett, CO
  • Boulder, CO
  • Brighton, CO
  • Broomfield, CO
  • Castle Rock, CO
  • Centennial, CO
  • Colorado City, CO
  • Colorado Springs, CO
  • Commerce City, CO
  • Denver, CO
  • Englewood, CO
  • Fort Collins, CO
  • Fountain, CO
  • Georgetown, CO
  • Glenwood Springs, CO
  • Golden, CO
  • Grand Junction, CO
  • Greeley, CO
  • Greenwood Village, CO
  • Highlands Ranch, CO
  • La Salle, CO
  • Lakewood, CO
  • Leadville, CO
  • Littleton, CO
  • Longmont, CO
  • Louisville, CO
  • Loveland, CO
  • Lyons, CO
  • Morrison, CO
  • Parker, CO
  • Peyton, CO
  • Pueblo, CO
  • Thornton, CO
  • Westminster, CO
  • Wheat Ridge, CO
  • Woodland Park, CO
  • Holiday, FL
  • Fort Dodge, IA
  • Hartley, IA
  • Mount Vernon, IN
  • Wichita, KS
  • Lexington, KY
  • Louisville, KY
  • Bossier City, LA
  • Chalmette, LA
  • Crowley, LA
  • Dequincy, LA
  • Franklin, LA
  • Houma, LA
  • Lafayette, LA
  • Lake Charles, LA
  • New Iberia, LA
  • Norco, LA
  • Opelousas, LA
  • Saint James, LA
  • Shreveport, LA
  • Vinton, LA
  • Grayling, MI
  • Welcome, MN
  • Kansas City, MO
  • Saint Joseph, MO
  • Albion, NE
  • Lancaster, NH
  • Paulsboro, NJ
  • Alamogordo, NM
  • Albuquerque, NM
  • Aztec, NM
  • Chaparral, NM
  • Deming, NM
  • Las Cruces, NM
  • Tularosa, NM
  • Queensbury, NY
  • Bloomingburg, OH
  • Ada, OK
  • Ardmore, OK
  • Broken Bow, OK
  • Catoosa, OK
  • Newcastle, OK
  • Okemah, OK
  • Oklahoma City, OK
  • Memphis, TN
  • Nashville, TN
  • Abernathy, TX
  • Alba, TX
  • Amarillo, TX
  • Angleton, TX
  • Aransas Pass, TX
  • Arlington, TX
  • Austin, TX
  • Azle, TX
  • Bacliff, TX
  • Baytown, TX
  • Beaumont, TX
  • Beeville, TX
  • Bellmead, TX
  • Belton, TX
  • Benbrook, TX
  • Brownsville, TX
  • Bryan, TX
  • Burleson, TX
  • Canton, TX
  • Carrollton, TX
  • Cedar Park, TX
  • Channelview, TX
  • Cleburne, TX
  • Cleveland, TX
  • Clyde, TX
  • College Station, TX
  • Conroe, TX
  • Converse, TX
  • Copperas Cove, TX
  • Corpus Christi, TX
  • Cypress, TX
  • Dallas, TX
  • Damon, TX
  • Dayton, TX
  • Deer Park, TX
  • El Paso, TX
  • Ennis, TX
  • Euless, TX
  • Falfurrias, TX
  • Flatonia, TX
  • Flower Mound, TX
  • Fort Worth, TX
  • Freeport, TX
  • Freer, TX
  • Friendswood, TX
  • Galena Park, TX
  • Galveston, TX
  • Garland, TX
  • George West, TX
  • Georgetown, TX
  • Granbury, TX
  • Grand Prairie, TX
  • Granger, TX
  • Grapevine, TX
  • Groves, TX
  • Haltom City, TX
  • Helotes, TX
  • Hewitt, TX
  • Hillsboro, TX
  • Houston, TX
  • Humble, TX
  • Huntsville, TX
  • Ingleside, TX
  • Irving, TX
  • Joshua, TX
  • Karnes City, TX
  • Katy, TX
  • Kenedy, TX
  • Kerrville, TX
  • Killeen, TX
  • Kingsville, TX
  • Kingwood, TX
  • La Porte, TX
  • Lake Jackson, TX
  • Lancaster, TX
  • Lane City, TX
  • Laredo, TX
  • League City, TX
  • Leander, TX
  • Lewisville, TX
  • Lockhart, TX
  • Los Fresnos, TX
  • Lubbock, TX
  • Luling, TX
  • Lumberton, TX
  • Matagorda, TX
  • Mcallen, TX
  • Mesquite, TX
  • Mission, TX
  • Missouri City, TX
  • New Braunfels, TX
  • New Caney, TX
  • New Waverly, TX
  • Nolanville, TX
  • North Richland Hills, TX
  • Orange, TX
  • Pasadena, TX
  • Pearsall, TX
  • Perryton, TX
  • Pflugerville, TX
  • Pharr, TX
  • Plano, TX
  • Port Arthur, TX
  • Portland, TX
  • Quinlan, TX
  • Refugio, TX
  • Richmond, TX
  • Richwood, TX
  • Riverside, TX
  • Roans Prairie, TX
  • Robinson, TX
  • Robstown, TX
  • Rockport, TX
  • Rocksprings, TX
  • Rosenberg, TX
  • Round Rock, TX
  • Rowlett, TX
  • San Benito, TX
  • San Diego, TX
  • Santa Fe, TX
  • Schertz, TX
  • Seabrook, TX
  • South Houston, TX
  • Spring, TX
  • Stafford, TX
  • Sunray, TX
  • Sweeny, TX
  • Temple, TX
  • Terrell, TX
  • Texas City, TX
  • The Colony, TX
  • Three Rivers, TX
  • Tomball, TX
  • Trinity, TX
  • Universal City, TX
  • Uvalde, TX
  • Waco, TX
  • Waxahachie, TX
  • Wichita Falls, TX
  • Wimberley, TX
  • Burlington, VT
  • Manchester Center, VT
  • Delavan, WI
  • Jefferson, WI
  • Sun Prairie, WI
  • Laramie, WY
  • Alma, Canada
  • Almonte, Canada
  • Anjou, Canada
  • Arnprior, Canada
  • Asbestos, Canada
  • Baie-Comeau, Canada
  • Bairdsville, Canada
  • Barrie, Canada
  • Bathurst, Canada
  • Bay Roberts, Canada
  • Beaupré, Canada
  • Beaverton, Canada
  • Bedford, Canada
  • Belleville, Canada
  • Black Duck Cove, Canada
  • Blainville, Canada
  • Boisbriand, Canada
  • Bois-Des-Filion, Canada
  • Bracebridge, Canada
  • Brighton, Canada
  • Brockville, Canada
  • Bromont, Canada
  • Brossard, Canada
  • Brownsburg-Chatham, Canada
  • Campbellton, Canada
  • Candiac, Canada
  • Cayuga, Canada
  • Charlemagne, Canada
  • Charlottetown, Canada
  • Châteauguay, Canada
  • Chicoutimi, Canada
  • Cobourg, Canada
  • Conception Bay South, Canada
  • Cookstown, Canada
  • Corner Brook, Canada
  • Cornwall, Canada
  • Côte Saint-Luc, Canada
  • Dartmouth, Canada
  • Deep River, Canada
  • Deer Lake, Canada
  • Deschambault, Canada
  • Dieppe, Canada
  • Dolbeau-Mistassini, Canada
  • Dollard-Des-Ormeaux, Canada
  • Drummondville, Canada
  • Eastern Passage, Canada
  • Englehart, Canada
  • English Harbour West, Canada
  • Fabreville, Canada
  • Fredericton, Canada
  • Gananoque, Canada
  • Gander, Canada
  • Gaspé, Canada
  • Gatineau, Canada
  • Glace Bay, Canada
  • Granby, Canada
  • Grand Falls-Windsor, Canada
  • Gravenhurst, Canada
  • Greenwood, Canada
  • Halifax, Canada
  • Hamilton, Canada
  • Happy Valley-Goose Bay, Canada
  • Hebbville, Canada
  • Holyrood, Canada
  • Hornby, Canada
  • Joliette, Canada
  • Kanata, Canada
  • Kentville, Canada
  • Kingston, Canada
  • Kirkland, Canada
  • La Pocatière, Canada
  • Labrador City, Canada
  • Lachine, Canada
  • Lakefield, Canada
  • L'Ancienne-Lorette, Canada
  • L'Ange Gardien, Canada
  • L'Anse Au Loup, Canada
  • Lasalle, Canada
  • Lévis, Canada
  • L'Île-Perrot, Canada
  • Longueuil, Canada
  • Lower Sackville, Canada
  • Mactaquac, Canada
  • Maitland, Canada
  • Mascouche, Canada
  • Miramichi, Canada
  • Mississauga, Canada
  • Moncton, Canada
  • Montague, Canada
  • Mont-Joli, Canada
  • Mont-Laurier, Canada
  • Montréal, Canada
  • Montreal-Est, Canada
  • Montreal-Nord, Canada
  • Montréal-Ouest, Canada
  • Mont-Royal, Canada
  • Mont-Saint-Hilaire, Canada
  • Mont-Tremblant, Canada
  • Mount Albert, Canada
  • Mount Pearl, Canada
  • Nepean, Canada
  • New Minas, Canada
  • North York, Canada
  • Orangeville, Canada
  • Ottawa, Canada
  • Peterborough, Canada
  • Pickering, Canada
  • Pictou, Canada
  • Pointe-Aux-Trembles, Canada
  • Pointe-Claire, Canada
  • Pont-Rouge, Canada
  • Port Elgin, Canada
  • Port Hawkesbury, Canada
  • Port-Cartier, Canada
  • Porters Lake, Canada
  • Prescott, Canada
  • Québec, Canada
  • Repentigny, Canada
  • River Glade, Canada
  • Riverview, Canada
  • Riviere-Verte, Canada
  • Saint-Alphonse-De-Granby, Canada
  • Saint-Anselme, Canada
  • Saint-Bruno, Canada
  • Saint-Constant, Canada
  • Saint-Damien-De-Buckland, Canada
  • Sainte-Agathe-Des-Monts, Canada
  • Sainte-Anne-Des-Plaines, Canada
  • Sainte-Dorothée, Canada
  • Sainte-Hélène-De-Bagot, Canada
  • Sainte-Julie, Canada
  • Sainte-Marthe-Sur-Le-Lac, Canada
  • Sainte-Sophie, Canada
  • Saint-Étienne-Des-Grès, Canada
  • Saint-Eustache, Canada
  • Saint-Georges, Canada
  • Saint-Hubert, Canada
  • Saint-Hyacinthe, Canada
  • Saint-Jean-Sur-Richelieu, Canada
  • Saint-Jérôme, Canada
  • Saint-Lambert, Canada
  • Saint-Laurent, Canada
  • Saint-Lazare, Canada
  • Saint-Leonard, Canada
  • Saint-Raymond, Canada
  • Salaberry-De-Valleyfield, Canada
  • Salisbury, Canada
  • Sherbrooke, Canada
  • South River, Canada
  • St Thomas, Canada
  • St. John'S, Canada
  • Stewiacke, Canada
  • Stouffville, Canada
  • Summerside, Canada
  • Sussex, Canada
  • Sutton West, Canada
  • Sydney, Canada
  • Terrebonne, Canada
  • Thetford Mines, Canada
  • Thornbury, Canada
  • Timberlea, Canada
  • Toronto, Canada
  • Trois-Rivières, Canada
  • Truro, Canada
  • Val-D'Or, Canada
  • Vanier, Canada
  • Vars, Canada
  • Vaudreuil-Dorion, Canada
  • Victoriaville, Canada
  • Wesleyville, Canada
  • Whitby, Canada
  • Woodstock, Canada
  • Andover, England
  • Arundel, England
  • Aylesbury, England
  • Banbury, England
  • Barking, England
  • Bexhill-On-Sea, England
  • Billericay, England
  • Birmingham, England
  • Blackpool, England
  • Bolton, England
  • Boston, England
  • Bournemouth, England
  • Bradford, England
  • Braintree, England
  • Brighton, England
  • Bristol, England
  • Burnham-On-Sea, England
  • Burnley, England
  • Cambridge, England
  • Chatham, England
  • Cheadle, England
  • Cheltenham, England
  • Chichester, England
  • Corby, England
  • Coventry, England
  • Crawley, England
  • Doncaster, England
  • Dunstable, England
  • Enfield, England
  • Ferndown, England
  • Gloucester, England
  • Harrow, England
  • Havant, England
  • Hayes, England
  • Haywards Heath, England
  • Helston, England
  • Hemel Hempstead, England
  • High Wycombe, England
  • Hinckley, England
  • Hitchin, England
  • Hoddesdon, England
  • Horley, England
  • Hornchurch, England
  • Hungerford, England
  • Ilfracombe, England
  • Isleworth, England
  • King'S Lynn, England
  • Leatherhead, England
  • Leeds, England
  • Leicester, England
  • Lewes, England
  • Lichfield, England
  • Littlehampton, England
  • Liverpool, England
  • London, England
  • Loughborough, England
  • Lutterworth, England
  • Maidstone, England
  • Manchester, England
  • Market Harborough, England
  • Newark, England
  • Newbury, England
  • Newcastle, England
  • Newquay, England
  • Northampton, England
  • Northolt, England
  • Nottingham, England
  • Nuneaton, England
  • Plymouth, England
  • Pontefract, England
  • Poole, England
  • Preston, England
  • Reading, England
  • Redditch, England
  • Rickmansworth, England
  • Ringwood, England
  • Rochdale, England
  • Rochester, England
  • Rossendale, England
  • Rugby, England
  • Rugeley, England
  • Ruislip, England
  • Salford, England
  • Sandbach, England
  • Sandy, England
  • Sheffield, England
  • Shepperton, England
  • Shrewsbury, England
  • Southampton, England
  • Stafford, England
  • Stamford, England
  • Stockport, England
  • Stoke-On-Trent, England
  • Swindon, England
  • Tamworth, England
  • Taunton, England
  • Tavistock, England
  • Thatcham, England
  • Thetford, England
  • Thirsk, England
  • Trowbridge, England
  • Tunbridge Wells, England
  • Wareham, England
  • Warley, England
  • Wellingborough, England
  • Wembley, England
  • Weybridge, England
  • Wigston, England
  • Wilmslow, England
  • Winchester, England
  • Wirral, England
  • Woodford Green, England
  • Worcester, England
  • Worthing, England
  • Enniskillen, Northern Ireland
  • Larne, Northern Ireland
  • Newtownards, Northern Ireland
  • Airdrie, Scotland
  • Dumbarton, Scotland
  • Dunfermline, Scotland
  • Edinburgh, Scotland
  • Glasgow, Scotland
  • Paisley, Scotland
  • South Queensferry, Scotland
  • Wishaw, Scotland
  • Borth, Wales
  • Bridgend, Wales
  • Cardiff, Wales
  • Llantwit Major, Wales
  • Newport, Wales
  • Pembroke, Wales
  • Port Talbot, Wales
  • Ruthin, Wales
  • Swansea, Wales
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