Valero leads industry in processing flexibility
Valero Energy Corporation (Valero) processes 86 different crude oils, making it the industry leader in input flexibility. Valero began executing a strategic shift away from heavier crudes in early 2019 as sanctions and declines in output took effect due to sovereign instability. The company was performing overhauls on one of two refineries that process Venezuelan crude oil at the beginning of 2019, which limited the overall effect of the sanctions. However, running high amounts of lighter crude in refineries designed to process heavier oils can pose operational difficulties, such as overproduction of gasoline.
Structural|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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