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    Valero Energy

    Valero Energy Corporation history, company profile (overview) and corporate video

       Valero Energy Corporation is a petroleum company and a renewable fuels producer headquartered in San Antonio, Texas, United States. It engages in manufacturing, distributing and marketing transportation fuels and petrochemical products.

    HISTORY


       Valero Energy Corporation was born in 1980 as the corporate successor of Lo-Vaca Gathering Company, a natural gas pipeline subsidiary of Houston-based Coastal Corporation. At the time, this represents the largest corporate spinoff in U.S. history.

       The name Valero comes from Mission San Antonio de Valero, the original name of the Alamo.

       In 1984, Valero commissioned its first full-scale refinery in Corpus Christi, Texas (later named the Corpus Christi Refineries West Plant).

       During 1997 – 1998, Valero merged its natural gas-related service business with PG&E Corporation and spun off its refining assets into a new public corporation still known today as Valero Energy Corporation. Valero acquired three new refineries from Basis Petroleum, two in Texas and one in Louisiana, becoming the largest independent refining company on the Gulf Coast.

       Valero also became the second-largest independent refining company in the U.S. with its purchase of Paulsboro Refinery in New Jersey, its first transaction with a major oil company (Mobil).

       In 2000, Valero acquired Exxon’s Benicia Refinery in Northern California, and entered the West Coast refining market. The deal made Valero one of the largest asphalt producers in the U.S., and marked the company’s entry into the retail, branded wholesale and marketing sectors.

       In 2001, Valero completed its largest transaction to date: merging with San Antonio-based Ultramar Diamond Shamrock, bringing six more refineries into Valero’s portfolio. The deal also gave Valero a stake in a midstream logistics business, later named Valero LP, which was spun off in 2006 and renamed NuStar Energy LP.

       During 2003 – 2004, Valero acquired its St. Charles Refinery from Orion Refining Corporation in South Louisiana, expanding Valero’s Gulf Coast reach.

       In 2005, Valero became one of North America’s largest and most geographically diverse refiners with the acquisition of Premcor Inc.

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       During 2009 -2010, Valero acquired seven ethanol plants from VeraSun Energy Corporation. With this purchase, a new alternative energy subsidiary was formed, Valero Renewable Fuels Company LLC.

       In 2011, the company entered the Western European refining market with the acquisition of the Pembroke Refinery in Wales and related logistics assets and marketing business in the United Kingdom and Ireland. The acquisition from Chevron Corporation enhanced the company’s ability to operate globally.

       In 2012, in a joint venture called Diamond Green Diesel, Valero partnered with Darling Ingredients Inc. to build a 10,000-barrel-per-day renewable diesel refinery near its St. Charles refinery to process recycled animal fat, used cooking oil and other feedstocks into renewable diesel fuel.

       In 2013, Valero Energy Partners LP was formed to own, operate, develop and acquire crude oil and refined products pipelines, terminals and other transportation and logistics assets serving Valero refineries.

       In 2013, Valero also spun off its retail business as an independent public company. CST Brands Inc. entered the market as one of the largest publicly traded fuel and convenience merchandise retailers in North America.

    OPERATIONS


       Valero operates through the following business segments: Refining, Ethanol and Renewable Diesel.

    Refining

       Valero is one of the world’s largest independent petroleum refiners and a global distributor and marketer of transportation fuels.

    Ethanol

       Valero is one of the world’s largest corn ethanol producers.

    Renewable Diesel

       The company engages in the production and sale of renewable diesel, a low-carbon fuel.


       The company supplies over 7,000 independently owned fuel outlets carrying its brands in the U.S., Canada, the U.K., Ireland, and Mexico, as well as rack and bulk markets in those countries and Peru.

       With more than 10,000 employees and 15 refineries in the U.S., Canada, and the U.K., Valero Energy Corporation is considered one of the world’s largest independent petroleum refiners and one of the world’s largest renewable fuels producers. According to Forbes, it is considered one of the Largest Public Companies in the World.

    *Information from Forbes.com, Wikipedia.org, and www.valero.com.

    **Video published on YouTube by “ValeroEnergy1

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