Valero Energy Business Summary

Valero Energy Corporation (VLO) is a premier independent petroleum refiner and renewable fuels producer that generates revenue through the large-scale manufacture and marketing of transportation fuels and petrochemical products. The company’s business model is structured around three primary segments: Refining, which operates 15 refineries with a combined throughput capacity of 3.2 million barrels per day; Renewable Diesel, managed via the Diamond Green Diesel joint venture with an annual capacity of 1.2 billion gallons; and Ethanol, comprising 12 plants producing 1.6 billion gallons per year. Valero competes directly with Marathon Petroleum, Phillips 66, and HF Sinclair, holding a dominant market position as the largest renewable fuels producer in North America and a leader in high-complexity refining operations. Established in 1980 as a spin-off of Coastal States Gas Corporation under founding CEO Bill Greehey, Valero is currently led by Chairman, CEO, and President Lane Riggs, a veteran who joined the company in 1989. The executive leadership team includes Senior VP and CFO Homer Bhullar, who assumed his role on January 1, 2026, and Executive VP and COO Gary Simmons. The company’s board of directors features prominent figures such as Eric Mullins, Chairman and CEO of Lime Rock Resources, and Kimberly Greene, Chair and CEO of Georgia Power. Valero’s strategic focus remains on operational efficiency and the scaling of low-carbon initiatives, including the expansion of sustainable aviation fuel (SAF) production at its Port Arthur facility.