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Valero Energy Corporation: Company
built 272 days ago
Valero Energy Corporation is a Fortune 500 company with expected annual revenues of US$50 billion. Valero relied on the strong alliance between HP and Cisco to simplify the acquisition and deployment of the new technology, which includes Cisco networking, voiceover Internet protocol (VoIP) and switching products. Tags: Hewlett-Packard Co., Converged Network, Network, Cisco Systems Inc., Valero Energy Corp., Mergers & Acquisitions, Investment, Finance Case studies
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Valero Energy Corporation is a Fortune 500 company based in San Antonio, with more than 22,000 employees and annual revenues of nearly $30 billion. The company currently owns and operates 12 refineries in the United States and Canada with a combined throughput capacity of approximately two million barrels per day, making it one of the nation's top refiners of petroleum products. Valero is ... one of the nation's largest retail operators with approximately 4,500 retail outlets in the United States and Canada under various brand names including Diamond Shamrock®, Ultramar®, Valero®, Beacon® and Total®. For more information, visit www.valero.com.
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Valero Energy Corporation (VLO) announced today that it expects to report third quarter earnings from continuing operations excluding special items in the range of $1.30 to $1.40 per share. The special items consist of a $91 million pre-tax gain on repayment of a loan by a foreign subsidiary and the effects on the computation of diluted earnings per share related to the company
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Valero Energy was founded as a natural gas pipeline on the first day of 1980. In an effort to diversify itself into a broad-based energy firm, the company purchased a petroleum refinery shortly after its inception. Renovation and start-up of this facility in a difficult world petroleum market nearly put Valero out of business. The company subsequently sold off its natural gas properties to a limited partnership to retain financial stability and concentrate on its refining activities. Conditions in the petroleum industry repaid this gamble, and Valero Energy thrived in the late 1980s and early 1990s. From there, the Valero of the early 21st century was largely engineered through acquisitions.
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Valero Energy Corporation is one of the nation’s largest retail operators with 4,700 retail and wholesale branded outlets in the United States, Canada and the Caribbean under various brand names including Diamond Shamrock, Shamrock, Ultramar, Valero and Beacon. Valero Energy has used ReconNET since 1998 to assist with daily deposit verification and reconciliation services for more than 1000 company-owned stores.
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Valero made its most significant investment late in 1980 when it bought a one-half interest in Saber Energy, Inc., a small marketer of gasoline, for $51 million. With its new partner, Valero planned to turn Saber's tiny gasoline-producing operation in Corpus Christi, Texas, into a state-of-the-art specialized refinery. The facility was designed to use the product at the bottom of a barrel of crude oil—a high-sulfur, tar-like substance known as atmospheric residual oil (abbreviated "resid")—as its raw material, or "feedstock." Resid was obtained as a byproduct of the processing of raw crude oil and generally cost significantly less than a barrel of crude, which was the feedstock of a conventional refinery. By cracking resid in a complicated and expensive process, Saber's refinery would create high-quality gasoline. In the Saber partnership, the company made its bid to become a broad-based energy concern.
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