Recent Updates — VLO
Valero Energy Corporation’s wholly owned subsidiary, Valero Refining-Texas, L.P., entered into a definitive agreement to acquire all outstanding equity interests of LYB Houston Hub Holdings LLC from a subsidiary of LyondellBasell Industries N.V. The purchase price is $320.5 million, subject to closing adjustments. The transaction involves an approximately 700-acre facility adjacent to Valero’s existing Houston refinery on the Houston Ship Channel in Texas that previously operated as a petroleum refinery. Closing is expected by the end of 2026, contingent upon customary conditions including the expiration or termination of the Hart-Scott-Rodino Antitrust Improvements Act waiting period. Valero plans to initially restart 165,000 barrels per day of light sweet crude processing capacity at the facility by year-end 2027 and may later invest in high-complexity, heavy sour crude processing capabilities. Valero Energy Corporation is a multinational manufacturer and marketer of petroleum-based fuels and petrochemical products operating 14 refineries globally.
Valero Energy reported third-quarter 2026 net income attributable to stockholders of $6.8 billion, or $23.90 per share on an adjusted basis, compared to $1.1 billion, or $3.66 per share in the prior-year period. Refining segment operating income surged to $8.8 billion from $1.7 billion as throughput averaged 3.0 million barrels per day. Renewable Diesel and Ethanol segments contributed $353 million and $272 million in operating income, respectively. The company also repaid $526 million in maturing debt balances during the quarter.
Valero Energy Corporation increased its board size to eleven members and elected Matthew Audette as an independent director effective September 17, 2026. Mr. Audette, currently President and CFO of LPL Financial Holdings Inc., joins the Audit Committee immediately. The Board approved a $10,000 increase to non-employee director compensation components for 2027 and granted Mr. Audette a pro-rata equity award of 372 stock units valued at a cash retainer of $101,667. Valero Energy Corporation is a multinational manufacturer and marketer of petroleum-based fuels and petrochemical products operating refineries in the U.S., Canada, and the U.K.
Valero Energy Corporation reported second quarter 2026 net income attributable to stockholders of $3.7 billion, or $12.62 per share, compared to $714 million in the prior year period. The company declared a regular quarterly cash dividend on common stock of $1.20 per share. Stockholder cash returns totaled $2.6 billion for the quarter. Valero operates as a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products.
Valero Energy Corporation authorized a new $5.0 billion share repurchase program, which is in addition to the remaining $1.4 billion available under its previous February 2026 Program. Valero Energy Corporation is an energy company that refines and markets products from crude oil and natural gas.