Valero Energy refines crude oil into gasoline, diesel, jet fuel and asphalt, selling to wholesale buyers, airlines and branded fuel stations in North America and Europe. Unlike oil majors, it does not drill for oil; it buys crude and runs complex refineries along the U.S. Gulf Coast and Mid-Continent, in Quebec and in Wales. Through Diamond Green Diesel, a joint venture with Darling Ingredients, it turns waste fats and oils into renewable diesel and sustainable aviation fuel, and it also runs corn ethanol plants in the Midwest. Valero earns money on the gap between crude costs and fuel prices, and sells under the Valero, Diamond Shamrock, Ultramar and Texaco brands. The company was founded in 1980 and is based in San Antonio, Texas.
Company Size
5,001-10,000
Company Stage
IPO
Headquarters
San Antonio, Texas
Founded
1980
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