Valero 2005 Annual Report Download - page 12

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10 VA L E R O E N E R G Y C O R P OR A T I O N
50
150
250
350
TOTAL 3,300
WARE CITY
A
CKEE
S
ULSBORO
R
. CHARLES
ILMINGTON
ARDMORE
ARUBA
BENICIA
CORPUS CHRISTI* (East & West)
DELA
HOUSTON
KROTZ SPRINGS
LIM
M
MEMPHI
PA
PORT ARTHU
QUEBEC
ST
TEXAS CITY
THREE RIVERS
W
REFINERY THROUGHPUT CAPACITY
Throughput Capacity: Crude and other feedstocks imported into the refinery and processed
in one of the processing units. Imported blendstocks are not included.
* Corpus Christi is comprised of two plants.
MBPD = barrels per day in thousands
MBPD
The former Premcor plants pumped out $810
million in operating income in the last four
months of 2005 alone – about 24 percent of
Valero’s refining segment income during that
period. That was despite the fact that the Port
Arthur refinery was shuttered for nearly three
weeks and ran at reduced rates for another two
weeks as a result of Hurricane Rita.
Similarly, the Aruba and St. Charles refineries,
acquired in 2004 and 2003 respectively, have
been among the best acquisitions in Valero his-
tory. The company implemented smooth tran-
sitions, invested in operational improvements,
captured synergies with other Valero plants,
benefited from higher margins, and improved
profitability. The result: both of these acquisi-
tions paid out within about a year of being
purchased.
Success stories like these have been repeated
time and again at Valero.
“Valero’s fourth fiscal quarter [results]
underscored that the renaissance in
refining--particularly for processors who can
run heavy sour crude or re-refine
residual fuel--is in full bloom.”
-- Tom Kloza, Oil Price Information Service,
February 2005
With its operations well in hand, the company
is in a great position to continue achieving
great success in the coming years.