Decades-old Valero Energy Corporation (VLO) recently decided to expand its production capacity, apprehending increased demand for motor fuels. The company announced that it would operate seven U.S. Gulf Coast refineries, up to 95%, in the 2022 fourth quarter.
Moreover, VLO beat its revenue estimates by 7.3% and EPS estimates by 2.9% in its 2022 third quarter. Joe Gorder, VLO’s Chairman and CEO, said, “We continue to maximize refining utilization in a safe, reliable and environmentally responsible manner to provide essential products.”
