Valero Energy is a global manufacturer of petrochemical products and the leading independent oil refiner in the U.S. With approximately 20,000 employees worldwide, the company operates 15 refineries that produce a combined 2.5 million barrels of oil per day. In 2011, Valero acquired Chevron’s Pembroke refinery, in Wales, U.K., for $730 million, marking Valero’s expansion into the Western European refining market. Valero struggled in 2020, a year in which oil prices plunged to all-time lows as demand dropped precipitously owing to pandemic lockdowns. As a result, the company was forced to temporarily halt production at two of its ethanol plants.
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