2025 Valero Report on Guiding Principles - Flipbook - Page 3
Introduction
Safety
Environment
Community
People
Governance
Appendix
A Message from Our CEO
In 2024, we had our best year ever for personnel
and process safety, as well as one of our best
years for environmental scorecard performance.
Mr. Riggs at
Mission Road
Development
Center in
San Antonio.
I am very proud of the entire team and these
accomplishments, as the results reinforce our
view that safe and reliable operations drive overall
performance and excellence.
We demonstrated our re昀椀ning system's 昀氀exibility
and the capability of our commercial and
operations teams to secure and process the
most economic crude oils. We continue investing
in improving the margin capability of our
re昀椀ning portfolio through disciplined re昀椀ning
optimization and strategic growth projects. We
also set a record for ethanol production with the
expansion of capacity and process optimization
at many of our ethanol sites. The large-scale
Sustainable Aviation Fuel (SAF) project in Texas
was successfully started up in the fourth quarter
of 2024 and is now fully operational.
On a consolidated basis, we have invested more
than $5.8 billion in our low-carbon segments,
which have positioned us as one of the largest
manufacturers of renewable diesel, SAF and
ethanol in the world. We also continue to evaluate
and develop economic projects to further reduce
the carbon intensity of our ethanol business.
Looking ahead, we still expect product demand to exceed supply with the announced re昀椀ning industry
shutdowns this year and the limited capacity additions beyond 2025, supporting long-term re昀椀ning
fundamentals.
We remain focused on our strategy to maintain operating excellence, execute our projects well, preserve
discipline around capital investments and our commitment to stockholder returns.
I feel honored every day to work with an outstanding team of more than 9,900 employees who have
demonstrated commitment to advancing transportation fuels through innovation, ingenuity and unmatched
execution.
I extend my deepest gratitude to our Board for its steadfast support, our stockholders for their investment and
our business partners and other stakeholders for their trust.
R. Lane Riggs
Chairman, Chief Executive Of昀椀cer & President
Valero Report on Guiding Principles •
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