The Scriptures say in 2 Corinthians 9:8 (NIV)
that “
And God is able to bless you
abundantly, so that in all things at all times, having all that you need, you
will abound in every good work”.
Named for the mission San Antonio de Valero – the genuine name of the Alamo – Valero Energy
Corporation was generated on January. 1, 1980, as the corporate successor of LoVaca Gathering
Company, a subordinate of the Coastal States Gas Corporation (Valero, 2020). Valero is the
direct outcome of a $1.6 billion settlement officially agreed without opposition in 1978 by the
Texas Railroad Commission, the state's natural gas regulatory agency, that brought to a halt
more than six years of litigation presented against Coastal by its municipal gas consumers.
Valero's natural-gas transportation business diversified in the mid-1980s when the company
bought a 50 percent interest in a Corpus Christi, Texas, refinery owned by Saber Energy
(Cobano-Conde, 2018). The operation began as nothing more than a vacuum unit and crude unit
on a humble plot of land near the Corpus Christi Ship Channel. But in the years that followed,
Valero assembled its "Refinery of the Future," and through its subsidiaries added more
refineries beginning in 1997, with 15 plants today. Through these purchases, the firm also
branched into retail and wholesale markets.
Valero Energy is an international manufacturer and marketer of transportation fuels and other
petrochemical and coal products based in San Antonio, Texas. It has been listed 31st in Fortune
500 (2018). Valero targets both wholesale and bulk markets with approximately 10,000
employees in 7,400 outlets in the United States., Canada, the United Kingdom. and Ireland,
which generated a revenue of $93,980mn and a revenue growth of 24.22 percent last year.
According to Bloomberg (n.d), Valero Energy Corporation is an independent petroleum refining
and marketing company that owns and operates refineries in the United States, Canada, and
Aruba. The firm produces conventional gasolines, distillates, jet fuel, asphalt, petrochemicals,
lubricants, and other refined products, as well as offers diesel fuel, low-sulfur and ultra-low-
sulfur diesel fuel, and oxygenates.
Brewer (2020), noted that Shares of Valero Energy Corporation (NYSE:VLO) fell a hefty 21
percent in February in reference to information from S&P Global Market Intelligence. That left
the shares go down a painful 29 percent through the first two months of 2020. The S&P 500
Index, for comparison, fell around 8 percent over that span, with most of the decline taking place
at the latter part of February when COVID-19 issue began to take center stage. Although
connected in some ways, Valero's issues at present are not all connected to the outbreak.
Valero Energy is one the largest refiners in North America. On the surface, low energy prices
must be a positive advantage, since it means key feed stocks can be hard on the cheap. That's
actually true, since COVID-19 issues have driven the price of oil and natural gas acutely lower.
That, nevertheless, wasn't a direction confined to February. Energy industry investors have been
pushing oil and gas prices lower since the coronavirus news started to pick up at the start of the
year. According to Financhill (2020), over the next 52 weeks, Valero Energy Corp has on mean
historically increase by 19.4 percent dependent on the past 22 years of stock performance.
Valero Energy Corp has risen higher in 16 of those 22 years over the subsequent 52-week time
frame, comparable to a 72 percent historical probability.
Corso (2020) reported on January 24th this year that the Chief Executive Officer of Valero
Energy Corporation, Joe Gorder is no longer president of the San Antonio refiner, having handed
over the title to a long-time Valero employee on Friday.
Lane Riggs, previously executive vice president and chief operating officer, was promoted
Friday to company president. He will maintain his role as chief operating officer, a position he
has held since 2018.
References:
Brewer, R. G. (2020). Why Valero Energy Corporation stock plunged 21% in February. The
Motley Fool. Retrieved from https://www.fool.com/investing/2020/03/05/why-
valero- energy-corporation-stock-plunged-21-in.aspx
Bloomberg (n.d.). Valero Energy Corporation. Retrieved from
https://www.bloomberg.com/profile/company/VLO:US
Cobano-Conde, M. (2018, October 9). Top 10 manufacturing companies in the U.S. Retrieved
from https://www.manufacturingglobal.com/top10/top-10-manufacturing-companies-us
Corso, J. (2020). Valero promotes a new president; Gorder remains as CEO. San Antonio
Business Journal. Retrieved from
https:// www.bizjournals.com/sanantonio/news/2020/01/24/valero-promotes-a-new-
president-gorder-remains-as.html
Financhill (2020). Valero Energy Corporation stock predictions. Retrieved
from https://financhill.com/stock-forecast/VLO-stock-prediction
The Holy Bible, New International Version. (2007). New York:
Zondervan Valero (2020). Company history.
Retrieved from https://www.valero.com/en-us/AboutValero/CompanyHistory
