Skip to Content
As CEO Joe Gorder put it when the company released its annual financial report, Valero faced another “challenging environment for the refining business” in 2019. Net income sank 17% year-on-year, to $2.8 billion, even as refinery utilization was at 96% and the company refined record amounts of oil. The business completed a network of central Texas pipelines and terminals, extending the reach of its vast U.S. shale business deeper inland. Its 2020 growth ambitions suffered a blow in late November when its renewable fuels business stumbled: Two ethanol plants were forced to close temporarily, and additional plants went offline in March 2020, as the coronavirus pandemic destroyed demand for any and all types of energy.
MARK FELIX—AFP via Getty Images
Lists ranking Valero Energy
Fortune 500 - 2020This year's Fortune 500 marks the 66th running of ...READ MORE
Created with sketchtool.Created with sketchtool.Leads, insights, and financial data for the FORTUNE 500, FORTUNE 1000, and Global 500 companies.Purchase Now