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Valero Energy Corporation
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2019 Vault Rankings

At a Glance


Valero offers good benefits, especially at corporate headquarters.

Many employees have flexible work schedules.


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 about 15 ethanol plants with a combined production capacity of about 1.7 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. The US accounts for 70% of sales.


Valero operates in three reportable segments: Refining, Ethanol, and VLP.

Refining accounts for the vast majority of Valero's total sales. It produces gasoline and blendstock, distillates, and other products. The Ethanol segment consists of sales of internally produced ethanol and distillers grains in the US. VLP provides transportation and terminaling services to the refining segment. Ethanol and VLP account for about 5% of sales combined.

Geographic Reach

Texas-based 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; the UK and Ireland nearly 15%; Canada nearly 10%; and other countries around 10%.

Iowa is home to five of Valero's 15 refineries, accounting for nearly 40% of refining capacity. 

Sales and Marketing

Valero markets branded and unbranded refined products on a wholesale basis through an extensive bulk and rack marketing network. Valero sells refined products through 5,300 branded sites in the US, more than 900 branded sites in the UK and Ireland, and roughly 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, Ireland, and Latin America.

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

Financial Performance

Valero's sales took a battering from the oil price crash, as have many of its peers. From a peak revenue of $138 billion in 2012, its sales fell to just $76 billion in 2016. After that, oil prices started recovering and Valero's sales are nearly back at pre-crash levels. Net income held remarkably steady during the period however, staying in the black throughout.

In 2018 Valero's sales grew 24% to $117.0 billion due largely to higher realized prices. But despite higher sales, net income fell 19% to $3.4 billion due to an increase in input costs (again relating to higher oil prices) and a higher tax expense, a result of the $1.8 billion tax benefit recognized in the prior year relating to the US Tax Cuts & Jobs Act.

Valero's cash on hand fell $2.9 billion during 2018, ending the year at $3.0 billion. The company's operations generated $4.4 billion, offset by $3.9 billion used in investing activities and $3.2 billion used in financing. Valero's main cash uses in 2018 were capital expenditures, turnaround costs, acquisitions, share repurchases, and dividends. 


With the oil and gas environment stabilizing, Valero is taking the chance to regroup and reward its patient shareholders. In 2019 in brought Valero Energy Partners LLP, its former midstream (logistics and transportation) arm, back into the fold at a cost of $950 million. It has scaled back and shifted the mix of its capital budget toward sustaining capital (capital used to maintain operations) and away from growth capital (capital hoped to generate returns). Sustaining capital jumped from $1.3 billion to $1.9 billion in 2019, while growth capital shrunk from $1.1 billion to $800 million, the lowest in five years except the nadir that was 2016.

Projects coming online in the near-term include an alkylation unit in Houston, pipelines and terminals in central Texas, the Pasadena terminal, an alkylation unit in St Charles, a cogeneration unit in Pembroke, UK, further work at the Diamond Green Diesel renewable diesel plant, and the $975 million coker plant in Port Arthur.

In 2019 and 2020 Valero anticipates total capital expenditures of $2.5 billion per year.

Reflecting the increasing importance of renewable fuels, Valero created a new reportable segment in 2019, Renewable Diesel. The segment includes its Diamond Green Diesel plant, a JV with Darling Ingredients.

Mergers and Acquisitions

In 2019 Valero acquire Valero Energy Partners LLP, it's former midstream business spun off in 2013. Valero Energy Partners owns, operates, develops and acquires pipelines, terminals, and other transportation and logistics assets. The acquisition follows similar moves by rival companies to bring their midstream partners in-house.

In 2018, Valero acquired Pure Biofuels Del Peru, the third-largest fuel importer in Peru. It serves retailers, miners, and airlines. The total purchase price was $468 million. That same year it acquired three ethanol plants from two subsidiaries of Green Plains for $320 million. The plants are in Indiana, Iowa, and Michigan.

Also in 2018, Valero's UK logistics subsidiary acquired, in partnership with SemGroup Europe, SemLogistics Milford Haven, a fuel storage facility on the Welsh coast.

Valero Energy Corporation

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

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: VLO
Stock Exchange: , NYSE
EVP and CFO: Michael S. Ciskowski
Chairman, President, and CEO: Joseph W. Gorder
VP and CIO: Cheryl Thomas
Employees (This Location): 550
Employees (All Locations): 10,222

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
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
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
Lakewood, CO
La Salle, 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
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
Ada, OK
Ardmore, OK
Broken Bow, OK
Newcastle, OK
Okemah, OK
Oklahoma City, OK
Memphis, TN
Nashville, TN
Abernathy, TX
Alba, TX
Amarillo, 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
Daly City, 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
Galveston, TX
Garland, TX
Georgetown, TX
George West, TX
Granbury, TX
Grand Prairie, TX
Granger, TX
Grapevine, TX
Groves, TX
Haltom City, TX
Helotes, TX
Hewitt, TX
Hillsboro, TX
Houston, TX
Huntsville, TX
Ingleside, TX
Irving, TX
Joshua, TX
Karnes City, TX
Katy, TX
Kenedy, TX
Kerrville, TX
Killeen, TX
Kingsville, TX
Kingwood, TX
Lake Jackson, TX
Lancaster, TX
Lane City, TX
La Porte, 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 Antonio, 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
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
Brockville, Canada
Bromont, Canada
Brossard, Canada
Brownsburg-Chatham, Canada
Campbellton, Canada
Candiac, Canada
Cayuga, Canada
Charlemagne, Canada
Charlottetown, Canada
Chicoutimi, Canada
Châteauguay, 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
Labrador City, Canada
Lachine, Canada
Lakefield, Canada
L'Ancienne-Lorette, Canada
L'Ange Gardien, Canada
L'Anse Au Loup, Canada
La Pocatière, Canada
Lasalle, Canada
Les Hauteurs, Canada
L'Île-Perrot, Canada
Longueuil, Canada
Lower Sackville, Canada
Lévis, Canada
Mactaquac, Canada
Mascouche, Canada
Miramichi, Canada
Mississauga, Canada
Moncton, Canada
Mont-Joli, Canada
Mont-Laurier, Canada
Montréal, Canada
Montreal-Est, Canada
Montreal-Nord, 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
Orillia, Canada
Ottawa, Canada
Peterborough, Canada
Pickering, Canada
Pictou, Canada
Pointe-Aux-Trembles, Canada
Pointe-Claire, Canada
Pont-Rouge, Canada
Port-Cartier, Canada
Port Elgin, Canada
Porters Lake, Canada
Port Hawkesbury, Canada
Port Perry, Canada
Prescott, Canada
Québec, Canada
Repentigny, Canada
River Glade, Canada
Riverview, Canada
Riviere-Verte, Canada
Sackville, 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-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
Saint-Étienne-Des-Grès, Canada
Salaberry-De-Valleyfield, Canada
Salisbury, Canada
Sherbrooke, Canada
South River, Canada
Stewiacke, Canada
St. John'S, Canada
Stouffville, Canada
St Thomas, 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