Valero 2003 Annual Report Download - page 14

Download and view the complete annual report

Please find page 14 of the 2003 Valero annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 33

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33

12
top฀geographic฀diversity
With฀ reneries฀ stretching฀ from฀ Canada฀ to฀ California,฀ Valero฀ has฀ the฀ most฀ geographically฀ diverse฀
system฀among฀the฀independent฀reners.฀What’s฀more,฀the฀company฀recently฀expanded฀its฀system฀to฀
the฀Caribbean฀with฀its฀acquisition฀of฀the฀Aruba฀renery.
Valero’s฀tremendous฀growth฀over฀the฀last฀few฀years฀has฀enabled฀the฀company฀to฀reach฀new฀markets฀and฀
increase฀its฀exposure฀to฀some฀of฀the฀best฀rening฀markets฀in฀North฀America.฀With฀a฀sizeable฀presence฀
in฀four฀of฀the฀ve฀U.S.฀rening฀regions,฀Valero฀is฀able฀to฀capitalize฀on฀the฀upswings฀in฀regional฀margins฀
since฀rening฀margins฀don’t฀always฀move฀together.฀If฀one฀region฀is฀outperforming฀another,฀Valero฀is฀
in฀a฀position฀to฀take฀advantage฀of฀it.฀฀
As฀Valero’s฀rening฀footprint฀has฀grown,฀so฀has฀its฀wholesale฀network,฀which฀now฀has฀locations฀from฀
the฀East฀Coast฀to฀the฀West฀Coast.฀In฀addition,฀Valero’s฀retail฀business฀is฀a฀market฀leader฀throughout฀
the฀Southwest฀with฀stores฀in฀11฀states.฀And฀in฀Canada,฀Ultramar฀is฀the฀largest฀independent฀gasoline฀
retailer฀in฀Quebec฀and฀the฀Canadian฀Atlantic฀provinces.฀฀
Without฀a฀doubt,฀Valero’s฀recent฀growth฀has฀really฀put฀the฀company฀on฀the฀map!
Bill Klesse, Executive Vice President & Chief Operating Ofcer, oversees a geographically
diverse network of operations stretching from the Jean Gaulin renery in Quebec to the
U.S. Gulf Coast and West Coast. Valero’s geographic diversity strengthens the company’s
competitive position, while adding stability to its earnings.