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During his tenure as CEO of Valero, Joe Gorder led a repositioning of the company’s strategy through capital discipline, innovation and strong execution. The company plans to continue building on that foundation and advancing its position as a leading manufacturer of liquid transportation fuels.
Valero achieved solid financial results in the second quarter across all business segments. Its refineries ran well and product demand remained strong. Notably, Valero’s renewable diesel business achieved record sales volumes, driven by incremental production from the new Diamond Green Diesel (DGD) plant in Port Arthur.
Valero’s DGD Sustainable Aviation Fuel (SAF) project at Port Arthur is progressing on schedule. The plant is expected to have the ability to upgrade half of its current 470 million gallon annual renewable diesel production capacity to SAF. Upon expected completion in 2025, DGD is expected to be one of the largest manufacturers of SAF in the world.
These projects expand Valero’s long-term competitive advantage, highlighting the dedication and execution of the company’s projects and operations teams. Valero’s people and culture are fundamental to its success.
Valero began with one refinery, and today it is the world’s largest independent refiner. Valero was one of the first refiners to produce low-carbon transportation fuels, and today it is one of the world’s largest producers of those fuels. Behind these accomplishments are Valero’s people — 9,700 globally, 5,000 of those in Texas, with nearly 1,800 in San Antonio. Valero’s employees demonstrate an unrelenting dedication to operating safely, reliably and in an environmentally responsible way. It also takes the trusted support of Valero’s business partners, who work hand in hand with the company so that Valero can make the fuels and products essential to modern life.
Valero’s culture of caring for its communities has been in its roots for more than four decades. Over this period, $232 million has been raised through the Valero Texas Open and Benefit for Children, more than $255 million has been provided to 70 United Way affiliates across the U.S., and 1.8 million hours volunteered by Valero employees. The kindness and generosity of Valero’s employees and the contributions of its business partners are making a meaningful difference in communities across the globe.
Valero continues to build an enduring legacy with its actions, right now.
