The largest independent refiner in the U.S. operates more than a dozen refineries around the world, capable of running through more than three million barrels of oil per day. Profits and revenue have softened in recent years, however, particularly as Valero can no longer cash in on a surplus of oil in the U.S. Oil isn’t its only business, though: Valero also holds renewable assets and is one of the largest producers of ethanol, making well over a billion gallons of the fuel per year.
Looking for leads, investment insights, or competitive intelligence?
News about Valero Energy
It was not clear if the water supply was ever contaminated by the spill.
"Gasoline is on the verge of trading under diesel... in JULY!!! That's insane," one trader said.
Valero Energy and Phillips 66 both say they are in 'max gasoline mode.'
But it will certainly make oil companies richer.