Valero

Valero is a large, independent energy company that supplies transportation fuels to drivers, fleets and retailers across North America, the United Kingdom and Ireland. The company is best known in the market through its Valero, Diamond Shamrock, Shamrock and Beacon fuel and convenience store brands, which appear on a wide range of forecourt and small-format retail sites. Most of these locations are owned and operated by independent dealers or jobbers, with Valero providing the fuel, branding and marketing support behind the canopy rather than running the stores directly.

The business was founded in 1980 in San Antonio, Texas, as a spinoff from Coastal States Gas Corporation. It was named after Mission San Antonio de Valero, the original name of the Alamo, reflecting its roots in South Texas. A defining milestone came in 2001, when Valero acquired Ultramar Diamond Shamrock. That transaction significantly expanded the company’s refining capacity and added the Diamond Shamrock and Shamrock brands, giving Valero a much larger presence in gasoline marketing and convenience retail across key U.S. regions.

Today Valero operates a network of large, complex refineries with a combined throughput capacity of roughly 3.2 million barrels per day, making it one of the largest independent refiners in the world. It produces gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks that move through pipelines, terminals and marine assets into wholesale, commercial and retail channels. Over the past five years, Valero has also expanded a substantial renewable fuels platform, building one of the larger ethanol portfolios in North America and growing a renewable diesel business through its Diamond Green Diesel joint venture. This shift means the company now supplies both conventional and lower‑carbon liquid fuels that work in existing vehicles and infrastructure.

As of April 2025, Valero and its partners operate roughly 7,400 branded outlets. These sites are concentrated along high‑volume transportation corridors in the U.S. Gulf Coast and Mid‑Continent and across the West Coast, with additional presence in Canada, the U.K., Ireland and the Caribbean. Within the United States, Texas, Louisiana, California and Arizona represent important focus markets. The company’s brands appear on a mix of highway, suburban and neighborhood locations, ranging from traditional fuel stations with small convenience footprints to larger multi‑service forecourts.

Over the last five years, Valero has directed most of its capital toward improving refinery efficiency, optimizing logistics and expanding renewable diesel production, rather than building a large portfolio of company‑operated stores. Retail growth has instead come through strengthening and selectively expanding its branded wholesale and dealer network in core markets. New Valero, Diamond Shamrock, Shamrock and Beacon sites typically emerge alongside new or improved highways, transportation infrastructure projects and the redevelopment of older fuel properties, where independent operators choose to align with a large, stable fuel supplier.

Valero is publicly traded on the New York Stock Exchange under the ticker VLO and is widely regarded as one of the leading independent refiners globally. For landlords, brokers and developers, this translates into a creditworthy, well‑capitalized brand that supports long‑term fuel supply and signage at a variety of site scales. Because most locations are run by independent dealers and jobbers under branding and supply agreements, the company’s presence can fit into different ownership structures, from single‑site operators to multi‑site portfolios.

Looking ahead, Valero’s strategy centers on disciplined capital allocation, steady improvement of its refining system and continued build‑out of renewable fuels capacity while maintaining its significant position in traditional fuels. In practice, this approach suggests that Valero and its related brands will remain active as fuel and branding partners for new development and redevelopment in Gulf Coast, Mid‑Continent and Western markets, particularly along busy freight and commuter routes where fuel and convenience formats play a central role in site activation.