Valero 2013 Annual Report Download

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Driving Value
2013 SUMMARY ANNUAL REPORT

Table of contents

  • Page 1
    Driving Value 2 0 1 3 S U M M A RY A N N U A L R E P O RT

  • Page 2
    VALERO ENERGY CORPORATION 2013 SUMMARY ANNUAL REPORT TABLE OF CONTENTS Financial Highlights ...3 Shareholder Letter ...4 A Look at Our Company...10 Map of Operations ...13 Vision Statement/Commitment to Excellence ...14 Driving Operational Success ...18 Driving Domestic Oil Processing ...22 Driving...

  • Page 3
    ..."our" and "us," when used herein, may refer to Valero Energy Corporation, to one or more of our consolidated subsidiaries, or to all of them taken as a whole. This is only a financial summary. The company's full, audited financial statements are contained in its Annual Report on Form 10-K for the...

  • Page 4
    ...our St. Charles hydrocracker project, successfully executed several major turnarounds and completed numerous other projects. We also executed the tax-efficient spinoff to you of our retail operations as CST Brands Inc. Valero now is a more focused 4 2013 SUMMARY ANNUAL REPORT 2013 SUMMARY ANNUAL...

  • Page 5
    ... into high-value fuel, recently earned Environmental Leadership Program awards from the Louisiana Department of Environmental Quality. Valero maintained its tradition of community leadership in 2013. We were named to The Civic 50, a list of the top 50 community-minded companies in America, by...

  • Page 6
    ...Joe and his team are the correct ones to pursue our opportunities. Your company is in good hands! We have accomplished a lot, and today, we are a much betterperforming and financially stronger company. Bill Klesse Chairman of the Board 8 2013 SUMMARY ANNUAL REPORT 2013 SUMMARY ANNUAL REPORT 9

  • Page 7
    ...subsidiary Diamond Alternative Energy LLC is a joint-venture partner with Darling International Inc. in a 10,000 barrel-per-day renewable diesel plant next to the Valero St. Charles Refinery in Norco, La., processing recycled animal fat and cooking oil into "green" diesel fuel. From corn ethanol to...

  • Page 8
    ... (CORPUS CHRISTI EAST AND WEST) SAN ANTONIO ST. CHARLES MERAUX PORT ARTHUR HOUSTON TEXAS CITY ARUBA UNITED KINGDOM WHOLESALE MARKETING PRESENCE BRANDED WHOLESALE PRESENCE VALERO REFINERIES VALERO ETHANOL PLANTS UNITED KINGDOM IRELAND VALERO HEADQUARTERS SUNRAY WIND DIAMOND GREEN DIESEL CREDIT...

  • Page 9
    ... the environmental quality of our operations within our local communities. Commitment to Our Communities We are committed to taking a leadership role in the communities where we live and work by providing company support and encouraging employee involvement. 14 2013 SUMMARY ANNUAL REPORT 2013...

  • Page 10
    16 2013 SUMMARY ANNUAL REPORT 2013 SUMMARY ANNUAL REPORT 17

  • Page 11
    ... to run," says Lane Riggs, Valero Executive Vice President-Refining Operations and Engineering, "the opportunity is there to set records." Improving refining operations is at the forefront of Valero's strategy to enhance returns and increase long-term shareholder value. The company's pursuit...

  • Page 12
    ... 2013, Valero had eight VPP Star Sites in its refining system, representing about a quarter of such sites across the industry nationally. Valero's Corpus Christi and Houston asphalt terminals additionally have received Star designations. In environmental performance, at the close of 2013, Valero...

  • Page 13
    ...wo new crude oil topping units - an expansion of 90,000 barrels per day at the Houston refinery for roughly $400 million, and of 70,000 barrels per day at Corpus Christi for about $350 million - expected to be on-line in early 2016 More projects are being evaluated at the Port Arthur, Texas, and...

  • Page 14
    ... petroleum products terminal in El Paso, Texas, and on to high-growth markets. Valero Energy Partners is Valero's primary vehicle to drive logistics growth. Rich Lashway Vice PresidentLogistics Operations, and President & COO, Valero Energy Partners LP 24 2013 SUMMARY ANNUAL REPORT 2013 SUMMARY...

  • Page 15
    ...'s new hydrocracker at Port Arthur to 60,000 barrels per day, which also is the permitted level at the St. Charles hydrocracker, completed in 2013. Both units are performing well. Diamond Green Diesel, a joint venture of Valero subsidiary Diamond Alternative Energy LLC and Darling International Inc...

  • Page 16
    ... of the new Port Arthur hydrocracker in December 2012. Completion of the two massive 60,000 barrel-per-day units culminated a successful $3.2 billion program which started in 2006. Also, Valero subsidiary Diamond Alternative Energy LLC completed the 10,000 barrel-per-day Diamond Green Diesel joint...

  • Page 17
    ... Former Chairman of the Board and CEO, Allstate Corp. Ruben M. Escobedo Former owner, Ruben Escobedo & Company, CPAs (retiring from board, May 2014) Joe Gorder CEO and President, Valero Energy Corporation Bill Klesse Chairman of the Board, Former CEO, Valero Energy Corporation Deborah Platt Majoras...

  • Page 18
    ... Riggs Executive Vice PresidentRefining Operations and Engineering Gary Arthur Jr. Senior Vice PresidentWholesale Marketing Jim Gillingham Senior Vice PresidentPetrochemicals, NGLs and Strategic Sourcing Gary Simmons Senior Vice PresidentSupply, International Operations and Systems Optimization...

  • Page 19
    P.O. Box 696000 San Antonio, Texas 78269-6000 www.valero.com