Valero is proud to share that 2022 was the company’s best year ever for combined employee and contractor safety, a testament to the company’s long-standing commitment to safe, reliable and environmentally responsible operations.
Valero ended the year strong, with its refineries running at 97% capacity utilization, their highest capacity utilization since 2018, demonstrating Valero’s dedication to making fuels and products the world depends on to sustain the life we all enjoy.
Valero’s renewable diesel business set another sales volume record in the fourth quarter with the startup of the company’s new Diamond Green Diesel (DGD) Port Arthur plant. The project was completed under budget and ahead of schedule and brings DGD’s total annual production capacity to 1.2 billion gallons of renewable diesel and 50 million gallons of renewable naphtha.
The company continues to invest in its refining business. Valero’s coker project in Port Arthur, Texas remains on track and is expected to be completed in the second quarter of 2023. This project should increase the refinery’s throughput capacity and also improve maintenance efficiency.
Valero’s carbon sequestration project with BlackRock and Navigator is also progressing on schedule, with startup activities still expected to begin in late 2024. Eight of Valero’s ethanol plants will be connected to this system, which is expected to result in the production of a lower carbon-intensity ethanol product.
These initiatives demonstrate how Valero is leveraging its liquid-fuels platform and operational expertise to further strengthen the company’s long-term competitive advantage as the world’s largest producer of renewable transportation fuels.
But Valero is not stopping there. The company continues to develop additional low-carbon opportunities such as sustainable aviation fuel (SAF), renewable hydrogen and additional renewable naphtha and carbon sequestration projects.
Turning to the community, Valero remains committed to its people and to helping power communities with more than just fuel. In 2022, Valero and its employees generously pledged a record $19 million to United Way across the U.S., of which $7 million will be distributed to the United Way of San Antonio and Bexar County.
Valero’s employees also volunteered more than 100,000 hours last year, from building homes and donating blood to mentoring students and providing meals for families. Valero volunteers partnered with hundreds of agencies that work to address the needs of the community.
And with the generous support of Valero’s business partners, more than $22 million was raised at the Valero Texas Open and Benefit for Children in 2022, bringing the all-time tournament total to $209 million. The Valero Texas Open has grown to become the number one tournament on the PGA TOUR in charitable giving.
Valero knows tomorrow is built on the actions it takes today.