There are literally dozens of oil and gas companies in the United States, but only a few stand out as Valero Energy Corp. Why, though? Well, first of all, they started out pretty small in the 1980s but managed to rise up to the level where it now has become a multi-billion dollar company. Can you even believe that? As of now, Valero Energy has more than a dozen refineries in the country across different locations. So yeah, if you have ever fueled up your vehicle’s tank, chances are that diesel or petrol came from one of the refineries of Valero Energy Corp. If that has made you so much more interested in knowing more about this company, then simply keep on reading. That’s because here we will be spilling the beans about their history, their net worth, and a whole lot more.
|Valero Energy Origin Country
|San Antonio, Texas, United States
|Valero Energy CEO
|Valero Energy Net Worth
|$43.63 billion (as of October 2023)
|Oil and gas
The Valero Energy Story
Back in 1980, something big happened. Valero Energy Corporation was born. But did you know that it got its name from the famous mission San Antonio de Valero? Yep, that’s true and this is how Valero started its journey back in those early days. From the get-go, it had big dreams. Want proof? Well, today, it’s a top player in refining petroleum and making renewable fuels in North America. Here’s a bit of backstory though, Valero began as a part of the Lo-Vaca Gathering Company. But then, a big change happened and it became its own thing, setting records in the U.S. Fast forward to 1984. Valero made something cool in Corpus Christi, Texas, it was a refinery. And as the years rolled on, Valero was on the move. They bought other refineries, like three from Basis Petroleum. They also got Exxon’s Benicia Refinery in 2000. And then came the year 2011, that’s when they took a big leap and bought the Pembroke Refinery in Wales.
Valero Energy Financials
In 2022, they made a lot of money, $176.383 billion to be exact! But running a big company isn’t cheap. After all the bills, they had $11.528 billion left. That’s like earning your paycheck, paying for your stuff, and having a good bit left to save or enjoy. What else do they have? Well, they own things worth $60.982 billion. Valero has 15 big oil places called refineries. Some are in the United States, a few in Canada, and they’ve one in Wales too! And they make a special kind of fuel called ethanol. With all those refineries and the manpower that they have, they can easily make up to 1.2 billion gallons of fuel every single year. That’s a lot of fuel right there! Now, jump to 2023, and Valero is worth a huge $43.63 billion.