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, the UK, and Aruba. It also has 11 ethanol plants with a combined production capacity of about 1.3 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.

Geographic Reach

Valero has refining and wholesale operations in Aruba, Canada, Ireland, the UK, and the US. In 2015 the US accounted for 68% of the company's total revenues; Canada, 8%; UK and Ireland, 13%; and other countries, 11%.

Operations

The company operates two business segments: Refining (96% of Valero's 2015 revenues -- refining operations, wholesale marketing, product supply and distribution, and transportation); and Ethanol (sales of internally produced ethanol and distillers grains in the US).

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, 1,000 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

In 2015 Valero's net revenues decreased by 33% due to lower refining and ethanol segment sales.
 
Operating revenues decreased primarily due to lower refined product prices and crude oil feedstock costs, respectively. In addition, revenues from ethanol segment also decline due to lower crude oil and gasoline prices.

In 2015 the company's net income increased by 10%  due to a decrease in the cost of sales (excluding the lower of cost or market inventory valuation adjustment).
 
Cash from operating activities increased by 32% due to higher net income and changes in current assets and current 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.

In 2016, the company expected to spend $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.

In 2014 subsidiary Valero Renewable Fuels Company, LLC, purchased a corn ethanol plant in Mount Vernon, Indiana from Aventine Renewable Energy-Mt. Vernon, LLC with an annual production capacity of 110 million gallons. The Mount Vernon plant is the 11th corn ethanol plant in Valero Renewables' system and its second in Indiana, and gives Valero more than 1.3 billion gallons per year in ethanol production.

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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

Major Office Locations

  • San Antonio, TX

Other Locations

  • Mobile, AL
  • Alma, AR
  • Booneville, AR
  • Clarksville, AR
  • Apache Junction, AZ
  • Chandler, AZ
  • Ehrenberg, AZ
  • Gilbert, AZ
  • Glendale, AZ
  • Laveen, AZ
  • Mesa, AZ
  • Peoria, AZ
  • Phoenix, AZ
  • Surprise, AZ
  • Tempe, AZ
  • Tucson, AZ
  • Antioch, CA
  • Apple Valley, CA
  • Atwater, CA
  • Barstow, CA
  • Bell, CA
  • Benicia, CA
  • Brentwood, CA
  • Castroville, CA
  • Cathedral City, CA
  • Chico, CA
  • Chowchilla, CA
  • Chula Vista, CA
  • Clearlake, CA
  • Clovis, CA
  • Cupertino, CA
  • Dixon, CA
  • El Cajon, CA
  • Fair Oaks, CA
  • Fillmore, CA
  • Fontana, CA
  • Fort Bragg, CA
  • Fresno, CA
  • Garden Grove, CA
  • Gilroy, CA
  • Half Moon Bay, CA
  • Hanford, CA
  • Indio, CA
  • Jackson, CA
  • Kettleman City, CA
  • King City, CA
  • Livermore, CA
  • Lodi, CA
  • Lompoc, CA
  • Loomis, CA
  • Los Banos, CA
  • Lost Hills, CA
  • Madera, CA
  • Mendota, CA
  • Merced, CA
  • Monterey, CA
  • Morro Bay, CA
  • Moss Landing, CA
  • Napa, CA
  • North Highlands, CA
  • Oakhurst, CA
  • Ojai, CA
  • Orange, CA
  • Orland, CA
  • Pacheco, CA
  • Palmdale, CA
  • Palo Alto, CA
  • Paso Robles, CA
  • Petaluma, CA
  • Pinole, CA
  • Pittsburg, CA
  • Placerville, CA
  • Pleasant Hill, CA
  • Reedley, CA
  • Richmond, CA
  • Sacramento, CA
  • Salinas, CA
  • San Diego, CA
  • San Jose, CA
  • San Lorenzo, CA
  • San Marcos, CA
  • San Martin, CA
  • San Ramon, CA
  • Santa Cruz, CA
  • Santa Rosa, CA
  • Selma, CA
  • Spring Valley, CA
  • Sunnyvale, CA
  • Tracy, CA
  • Vallejo, 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
  • Albert City, IA
  • 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
  • North Platte, NE
  • Lancaster, NH
  • Paulsboro, NJ
  • Alamogordo, NM
  • Albuquerque, NM
  • Aztec, NM
  • Belen, NM
  • Chaparral, NM
  • Deming, NM
  • Las Cruces, NM
  • Tularosa, NM
  • 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
  • Calliham, TX
  • Canton, TX
  • Carrollton, TX
  • Cedar Park, TX
  • Channelview, TX
  • Cleburne, TX
  • Cleveland, TX
  • Clyde, TX
  • College Station, TX
  • Concan, 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
  • Kenedy, TX
  • Kerrville, TX
  • Killeen, TX
  • Kingsville, TX
  • Kingwood, TX
  • La Porte, TX
  • Lake Jackson, TX
  • Lancaster, TX
  • Lane City, TX
  • Laredo, TX
  • Leander, TX
  • Lewisville, TX
  • Lockhart, TX
  • Los Fresnos, TX
  • Lubbock, TX
  • Luling, TX
  • Lumberton, TX
  • Matagorda, TX
  • Mcallen, TX
  • Mesquite, TX
  • Mexia, TX
  • Mission, TX
  • Missouri City, TX
  • Montgomery, TX
  • New Braunfels, 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
  • Bairdsville, Canada
  • Bathurst, Canada
  • Bay Roberts, 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
  • Buckhorn, Canada
  • Campbellton, Canada
  • Candiac, Canada
  • Cardinal, Canada
  • Cayuga, Canada
  • Charlemagne, Canada
  • Charlottetown, Canada
  • Châteauguay, Canada
  • Chicoutimi, Canada
  • Cobourg, Canada
  • Conception Bay South, Canada
  • Corner Brook, Canada
  • Cornwall, Canada
  • Dartmouth, Canada
  • Deer Lake, Canada
  • Deschambault, Canada
  • Dieppe, Canada
  • Dollard-Des-Ormeaux, Canada
  • Drummondville, Canada
  • Eastern Passage, Canada
  • Englehart, Canada
  • English Harbour West, Canada
  • Ferryland, 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
  • 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
  • Laval, Canada
  • Lévis, Canada
  • L'Île-Perrot, Canada
  • Longueuil, Canada
  • Lower Sackville, Canada
  • Maitland, Canada
  • Mascouche, Canada
  • Miramichi, Canada
  • Moncton, Canada
  • Montague, Canada
  • Mont-Joli, Canada
  • Mont-Laurier, Canada
  • Montréal, Canada
  • Montreal-Est, Canada
  • Montreal-Nord, Canada
  • Mont-Royal, Canada
  • Mont-Tremblant, Canada
  • Mount Albert, Canada
  • Mount Pearl, Canada
  • Nepean, Canada
  • New Minas, Canada
  • Orleans, Canada
  • Ottawa, Canada
  • Pembroke, Canada
  • Peterborough, Canada
  • Pickering, Canada
  • Picton, Canada
  • Pointe-Aux-Trembles, Canada
  • Pont-Rouge, Canada
  • Port Hawkesbury, Canada
  • Port-Cartier, Canada
  • Porters Lake, Canada
  • Prescott, Canada
  • Québec, Canada
  • Repentigny, Canada
  • River Glade, Canada
  • Riverview, Canada
  • Saint-Alphonse-De-Granby, Canada
  • Saint-Anselme, Canada
  • Saint-Bruno, Canada
  • Saint-Constant, Canada
  • Saint-Damien-De-Buckland, Canada
  • Sainte-Anne-Des-Plaines, Canada
  • Sainte-Hélène-De-Bagot, Canada
  • Sainte-Julie, Canada
  • Sainte-Marthe-Sur-Le-Lac, Canada
  • Saint-Eustache, Canada
  • Saint-Georges, Canada
  • Saint-Hubert, Canada
  • Saint-Jean-Sur-Richelieu, Canada
  • Saint-Jérôme, Canada
  • Saint-Lambert, Canada
  • Saint-Laurent, Canada
  • Saint-Lazare, Canada
  • Saint-Leonard, Canada
  • Saint-Nicolas, Canada
  • Saint-Raymond, Canada
  • Salaberry-De-Valleyfield, Canada
  • Salisbury, Canada
  • Sherbrooke, Canada
  • Smiths Falls, Canada
  • South River, Canada
  • St Thomas, Canada
  • St. John'S, Canada
  • Stouffville, Canada
  • Summerside, Canada
  • Sussex, Canada
  • Sutton West, Canada
  • Sydney, Canada
  • Terrebonne, Canada
  • Thetford Mines, Canada
  • Timberlea, Canada
  • Toronto, Canada
  • Trois-Rivières, Canada
  • Truro, Canada
  • Val-D'Or, Canada
  • Vanier, Canada
  • Vars, Canada
  • Vaudreuil-Dorion, Canada
  • Verdun, Canada
  • Victoriaville, Canada
  • Wesleyville, Canada
  • Woodstock, Canada
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