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Valero recently reported its full year 2023 results, highlighting a few achievements in several critical areas, including reliability, environmental and safety.
Starting with reliability, Valero refineries achieved their best year ever for mechanical availability.
Valero also set a record for environmental performance and matched its previous record for process safety, illustrating the company’s long-standing commitment to safe, reliable and environmentally responsible operations.
Lastly, through the organic growth of Valero’s wholesale system, the company set an annual record for sales volume in 2023 of approximately 1 million barrels per day, demonstrating the strength of its branded and wholesale fuels marketing network.
Valero continues to pursue strategic projects that enhance the earnings capability of its business and expand their long-term competitive advantage. The Diamond Green Diesel Sustainable Aviation Fuel (SAF) project at Port Arthur, Texas, remains on schedule, with completion expected in the first quarter of 2025.
These achievements result from Valero’s team’s continued focus on executing the strategy that has served the company well for nearly a decade and will continue to anchor its strategy going forward.
Equally important to its business is Valero’s commitment to the communities where its employees work and live. Being the best-in-class operator helps maintain Valero’s right to operate, as does positively engaging with neighbors by volunteering and giving back to our communities.
In 2023, Team Valero volunteered more than 127,000 hours, helping hundreds of agencies address community needs, such as serving food, building homes and mentoring students. Valero employees’ incredible generosity was demonstrated by an all-time giving record of more than $20 million to United Way affiliates in 26 states, with $7.4 million going locally to United Way of San Antonio and Bexar County.
In 2023, along with Valero’s business partners, sponsors and donors, Valero raised a record $23 million through the Valero Texas Open (VTO) and Valero Benefit for Children (BFC), bringing the all-time tournament total to $232 million. Through the BFC, 221 agencies in the U.S. were supported, with 60 of those right here in San Antonio. Preparations are underway for the 2024 Valero Texas Open and Benefit for Children on April 4-8.
Valero knows tomorrow is built on the actions the company takes today. This legacy of giving touches thousands of lives in the communities where Valero employees live and operate.
