Excellence Refined - 30 Years - Valero

VALERO LINES
EXCELLENCE
REFINED
INSIDE:
Photos, Reflections & More!

CONTENTS
3
4
12
26
28
36
45
Letter to Employees
A Company is Born
Strategy for Success
Map of Operations
The Heartbeat of Valero
Safety & Environmental
Valero Family Album
66 Commemorations
Artist renderings by Thom Ricks
Every company has a starting point. Every
business has a story. But some that come
along plot a course like no other, setting
precedents and exuding confidence where few expect
success. Since 1980, Valero Energy Corporation has
exemplified that rare breed. A business that chose to rise
from terrible odds. A family of employees who agreed
to “hang in there” when times were at their worst. A
company that refused to follow the predictable path.
Valero has traveled a different road, indeed. Thirty
years later, that has made all the difference.

Heartfelt Thanks
to Our Employees
Welcome to a new age for Valero Energy Corporation.
This year, our company is 30 years old. Many bright
minds have walked our halls, plants, terminals, pipelines
and retail stores, and each one has shaped Valero into
the leader it is today. For that, I thank everyone who has
shared in the life of our terrific company.
In Valero’s first year, gasoline sold for $1.25 a gallon,
Jimmy Carter was president and Americans were
celebrating the dawn of a new, ambitious decade.
But as Valero veterans remember, gasoline was far
from the company radar screen in 1980. Natural
gas transportation was its business, and Valero was
hard-pressed in those years to deliver on contracts
and offer significant community support in its new
headquarters city of San Antonio. What transpired
from then to now is one of the energy industry’s most
remarkable journeys, from court settlements and near
bankruptcy to acquisitions and Valero’s arrival as one
of North America’s largest independent refiners. Those
of you who joined the company in the mid-1990s will
remember a meteoric rise from 1997 to 2005, thanks to
acquisitions that turned us into a global refining leader.
Like any growing business, there were bumps along with
way. But there are also lessons we can all take from these
times – about the importance of hard work, the cyclical
nature of the energy business and the power that exists
in people to change their communities for the better.
Like me, many of you joined Valero at different stages
in the company’s growth. From Ultramar Diamond
Shamrock and Basis to Exxon, Premcor and other
acquisitions, the companies and operations in our past
have shaped what Valero is today. For the past 30 years,
the commitment and expertise of our people have helped
us prosper. With your help, the story of the next 30 years
will be even better.
For most of Valero’s life, our leader was Bill Greehey. Bill
has shaped our company and provided the leadership
and insight that made us so successful. He and other
members of the company leadership have our thanks.
I hope you enjoy this edition of Valero Lines, a compilation
of historical highlights from our past and hope for a
bright future. On behalf of the entire leadership team,
Happy Birthday Valero, and thanks for being a key part
of our success.
CEO, President & Chairman
Valero Energy Corporation

A Company
Is Born
The story behind Valero is one unequaled in
corporate America. Named for the Mission
San Antonio de Valero – the original name
of the Alamo – Valero Energy Corporation
was created on January 1, 1980, as the corporate
successor to LoVaca Gathering Company, a subsidiary of
the Coastal States Gas Corporation. Valero is the direct
result of a settlement approved unanimously in 1978 by
the Texas Railroad Commission, the state’s natural gas
regulatory agency, which ended more than six years of
litigation brought against Coastal by its municipal gas
customers who claimed they had been overcharged for
natural gas. Virtually the entire state was affected, directly
or indirectly, by LoVaca’s situation, which became one of
the major political controversies in Texas history.
In July 1973, the Texas Railroad Commission and state
Attorney General John Hill agreed to put LoVaca under
independent management. LoVaca’s board of directors
resigned, and the 200th District Court in Austin installed
a five-member board that was allowed to choose a
new leader for the embattled company. In 1974, the
independent board offered the LoVaca presidency to
William E. Greehey, Coastal’s young Senior Vice President
of Finance, and charged him with negotiating a settlement.
He accepted, and immediately began discussions with
the cities and townships that did business with LoVaca
to try to reach a settlement on the existing contracts. In
all, nearly 400 customers were involved in the process. By
the time resolution was found in July 1978, six years and
hundreds of hours of negotiation had passed.
“It was a long, laborious process,” said Stan McLelland,
who at the time represented customers’ interests as
a 28-year-old attorney with Austin-based Baker &
Botts. “Ultimately, what helped the settlement along
was customers’ realization that if they pursued their
individual lawsuits, it would result in bankruptcy for
LoVaca and they wouldn’t get anything anyway. Some
(customers) had to be dragged kicking and screaming to
the settlement table, but eventually, they all realized it
was the right decision.” McLelland went on to work at
4

JULY 28, 1978: Reporters question Bill
Greehey moments after the Texas Railroad
Commission agreed to a settlement for LoVaca
customers affected by the Texas gas crisis.
the very company he helped create, serving as Valero’s
longtime General Counsel.
As a result of the $1.6 billion settlement, Coastal’s
assets, worth $700 million – including an intrastate,
5,200-mile gas-gathering pipeline – were spun off into
the new company, Valero Energy Corporation. LoVaca
customers received 13 percent of Valero’s common stock
and $115 million in preferred stock. At the time, it was
the largest corporate spin-off in U.S. history. Former
Valero President Palmer Moe believes the settlement that
created Valero had benefits even beyond the obvious
for customers. “One benefit that was given little value
at the time was the requirement that Valero be located
in either San Antonio or Corpus Christi,” Moe said in
2005. “I think it was the most valuable benefit of all,
as Valero has become a leading corporate citizen, and
its employees have made tremendous volunteer and
financial contributions to the community.”
Valero did, indeed, move its headquarters from Houston
to San Antonio – even before the ink had dried on the
settlement itself. Not only was San Antonio the company’s
single-largest gas customer, it was the last holdout among
customers considering the state-supported settlement.
San Antonio’s 200-mile distance from Houston also
gave Valero much-needed separation from its embattled
former corporate parent, Coastal. Valero would begin
life under new skies and new optimism.
On January 2, 1980, a ceremony initiated trading of
Valero Energy common stock on the New York Stock
Exchange under the symbol VLO. Before trading opened
to the public, Valero stock was selling for $5 a share. On
day one, Valero saw its first public share sell for $12.50
– more than doubling in value overnight. Valero had
officially arrived with $1.3 billion in revenue, $649 million
in assets, 1,318 employees, and one goal: Grow.
This new company
represented a fresh start.
——
Lila Cockrell, San Antonio Mayor at settlement time
5

January 2, 1980: Valero executives gather at the New York Stock Exchange on the day the company went public.
Energy for the 1980s
On January 2, 1980, more than 22 million shares held by
approximately 20,000 shareholders began trading on the
New York Stock Exchange. A ceremony welcomed Valero
to the Big Board; cameras flashed and executives shook
hands. But back home in Texas, hard feelings among
customers and communities remained, particularly in
San Antonio. Valero officials answered icy receptions
with only more determination, quickly immersing
themselves in civic projects and community boards.
Most importantly, they committed to proving five things
that Valero would do: give employees the opportunity to
have satisfying and rewarding careers; provide customers
with a stable supply of natural gas at competitive prices;
offer stockholders a competitive return; give producers a
strong and reliable market for their gas; and, be a valued
and contributing part of the community.
For Valero to achieve everything it promised, its portfolio
had to involve more than heavily regulated natural gas.
The company had to find a way to grow its non-regulated
business ventures in order to balance its income. The
answer: natural gas liquids. It was a risky decision –
chosen, studied and dissected before the company was
even created – but executives felt certain that natural gas
liquids (NGL) production was profitable and worthy of
investment. In its first year, Valero spent more than $100
million building natural gas processing plants and natural
gas liquids pipelines to move the NGL’s to market. It added
gas storage facilities, spent approximately $14 million to
expand NGL production capacity and spent $4 million to
launch its exploration and production operation. Valero
developed the largest intrastate pipeline system in Texas,
with approximately 7,500 miles of transmission lines and
assets worth approximately $700 million. It negotiated
the right to charge customers 10 cents per million cubic
feet (mmcf) over the cost of natural gas in the first year,
and 15 cents over cost in year two. In a year’s time, the
growth strategy had started to work. Valero had become
Texas’ largest intrastate pipeline operator and the
nation’s sixth-largest producer of natural gas liquids.
A Company Is Born
6

Longtime Valero refinery executive John Hohnholt (center)
gives an early tour of Valero’s “Refinery of the Future” to
Corpus Christi Mayor Luther Jones (right).
The Corpus Christi Refinery would not be named Saber for long. Valero bought Saber’s 50 percent ownership in 1984.
The company’s early diversification efforts resulted in
an increase of total NGL production to more than 1
million gallons per day (20,000 BPD), plus investments
in an oilfield supply company, a coal company and other
areas in the energy sector. Even in 1981, Valero continued
growing, expanding its oil exploration and production
operation, opening offices in Midland, Houston, Denver
and New Orleans. But a recession and a volatile energy
industry soon put the company in a new direction.
Demand decreased and the market was flooded with
oil. Consequently, the price of oil plummeted – from
more than $30 a barrel to barely $9 in 1986. With the
downturn, Valero began phasing out its exploration and
production interests. Few observers realized it, but a new
course was starting to take shape.
Refinery of the Future
In 1981, Valero made a fateful, if not surprising, decision
to purchase an interest in a small refining company in
Corpus Christi, Texas. The $51 million purchase of 50
percent ownership in Saber Energy was Valero’s most
significant growth initiative to date, giving access to a
modest crude unit and vacuum unit that would pave the
way for future growth in an untapped and undervalued
industry.
The Saber operation was a simple, moderately profitable
configuration for a refinery. But its position on the Corpus
Christi ship channel made the venture attractive – an ideal
site to build a world-scale facility. In the years leading up
to Valero’s purchase, Saber employees had watched their
company struggle financially and grow hungry for a cash
infusion after federal regulators decontrolled the market
and placed small refiners at a competitive disadvantage.
Valero, with better financial footing, seemed just what
the doctor ordered.
Outside the walls of Valero, however, analysts and
investors were increasingly critical of ambitious plans
for the site. Taking a modest refinery to a full-scale,
7 Valero Lines 3oth anniversary edition

The centerpiece of the “Refinery
of the Future” would be the
Heavy Oil Cracker, cutting edge
technology in the early 1980s.
state-of-the-art operation was no small task, and an
uncertain economy was no help. But Valero forged
ahead with a 33-month, $535 million construction plan
to build the “Refinery of the Future.” The plant’s new
heavy oil cracker, with the ability to convert high-sulfur
residual oil (resid) into premium products, would add
an important element to Valero’s plan to diversify. As
one Saber executive put it at the time: “Everything is
mammoth in this refinery.”
Valero set out to build a world-class plant that would
be unique in two respects – the production of 100
percent unleaded gasoline, and the processing of resid
rather than conventional sweet crude. By taking on
the most difficult-to-process feedstock – which sold
at a significant discount to light sweet crude – the
company could achieve higher refining margins than a
conventional refiner. At the time of construction, the
refinery’s heavy oil cracker was one of only three such
units in the world. Beyond its sparkling new assets,
Valero’s first refinery also gained prominence for
environmental excellence and energy efficiency – two
priorities still at the heart of the company’s operation.
Longtime Gulf Oil executive Martin Zanotti joined the
Valero team to help free the refinery from management
problems and operational snags. Zanotti ultimately was
named Executive Vice President of Valero Refining and
Marketing Company. Upon his retirement from Valero
in 1995, Zanotti reminisced about the challenges for
Valero in its early days. With the expertise of engineers
such as John Hohnholt, who went on to serve as Vice
President and General Manager of the Corpus Christi
Refinery and a senior corporate executive before his
death in 2004, the refinery was ahead of its time in
technology. But few at the plant had the expertise to
make the concept work. “We put the refinery on the
right road. And that took a lot of effort on everybody’s
part,” Zanotti said. “Valero turned out to be even more
of an exciting challenge than I had expected.”
With a state-of-the-art refinery as its flagship, Valero
continued to field criticism for its faith in the industry.
News articles and magazines portrayed a company
drowning in debt, with no way to escape. “Even if Valero
wanted to,” one article read, “it would have a difficult
A Company Is Born
8

The original Saber refinery, near the site of Valero’s flagship refinery in Corpus
Christi, started as nothing more than a vacuum unit and crude unit (inset).
Today, the sprawling complex remains the last grassroots refinery in the
United States.

Tough Times Build
A Stronger Future
Senior Vice President of Finance Ed Benninger (left) stands with Bill Greehey
before the bulletin board of the NYSE ceremonies on March 26, 1987. Valero
used proceeds from the formation of a limited partnership to solidify the
company’s finances.
time getting rid of the debt-ridden refinery …” Naysayers
in the media and elsewhere predicted that success was
simply not possible, especially for a company with no
refining experience. But Valero had done its homework
and knew refining low-cost feedstocks was a niche market
at the time that had yet to be filled. Feeling the surge of
a strong environmental movement, Valero’s leaders knew
unleaded gasoline and other high-grade, premium fuels
were the future. Environmentalists continually urged the
energy sector to stop using high-sulfur resid in industrial
fuel, which would lower the feedstock cost.
But for all the optimism, Valero was not immune to the
realities of oil refining and its market volatility. Former
Valero President Palmer Moe – who joined the company
in 1983 after serving customers’ interests in the LoVaca
settlement days – recalled dark times in the mid-1980s.
Saber losses were soaring at $250,000 a day, and stocks
were on the slide. But equally clear in Moe’s memory
was the resilience of Valero employees. “The refinery was
really in trouble, and the company came close to the line
in terms of potential problems financially,” Moe said in
2005. “I think what brought us through all of that were
the people … people just worked a little harder. Everyone
maintained a positive attitude. Through the very
difficult times, we kept at the problems we were facing
and didn’t give up.”
To shore up its balance sheet, Valero formed a joint
venture in February 1985 with a subsidiary of InterNorth
when it sold a 50 percent interest in Valero’s West Texas
pipeline for $81 million. The sale helped Valero dispose of
excess capacity and reduce debt. And because InterNorth
was a national pipeline company, Valero also was able
to increase its revenue through the additional volumes
of gas moving through the pipeline. A short time later,
InterNorth acquired Houston Natural Gas and paid
Valero another $23 million to leave the partnership – a
Bill Greehey surveys the Corpus Christi Refinery with facility manager
George Kain.
The problem for most refiners, however, was the expense
involved in transforming such low-grade feedstock into
premium products. But Valero viewed the challenge as
an opportunity and found the best experts and the best
technology in the field to help the company make clean
fuel products from the heaviest sour feedstock. Profits
were possible, the company believed, if the equipment
and climate were right. Valero wasn’t investing in the here
and now; it was preparing for the future.
A Company Is Born
10

By the end of its first year, Valero stood solidly as Texas’ largest intrastate
pipeline operator and the nation’s second-largest producer of natural gas liquids.
serendipitous move, considering Houston Natural Gas’
infamous future parent company: Enron Corporation.
Valero’s toughest early year, arguably, was 1986, when it
reported a $100 million loss. Many predicted bankruptcy
for the company, but employees – as they had done in
the beginning – agreed to hang in and await better
times. Ever so slowly, conditions improved – starting that
same year, in fact, with Valero’s arrival onto the coveted
Fortune 500 list, based on its 1985 performance. Tough
economic times only made Valero stronger.
The company has always had the
ability to be flexible. And we are not
overburdened with huge bureaucracy.
That, coupled with the Valero spirit,
is what brings about success.
——
Ruben Escobedo, longtime Valero board member
Valero’s debt-reduction course culminated in 1986, when,
in December of that year, the company initiated plans
to place its natural gas pipeline and liquids assets into
a limited partnership. A Valero subsidiary would be the
general partner and own a 49 percent interest. This was
the most complicated financial step taken in the history
of the company, but it was one virtually everyone believed
single-handedly saved the company.
At the time, no one in the investment community believed
the limited partnership could be formed in less than six
months. But within the company, employees realized this
move had to be made by the end of the first quarter of
1987 to alleviate debt problems. Many worked around
the clock, seven days a week, to achieve the seemingly
impossible goal. As a result of everyone’s efforts, on
March 27, 1987, Valero Natural Gas Partners, L.P. was
formed as a publicly traded partnership on the New York
Stock Exchange under the symbol VLP. “We all worked
long days, but the key was working together as a team,”
said Ed Benninger, Valero’s Chief Financial Officer at the
time. “Everyone had a role to play and a contribution to
make. Whether you were a secretary or a vice president,
each was significant.” Because of the strong market
for natural gas and NGLs at the time, Valero was able
to maximize the value of those assets. As a result, the
company raised more than $740 million from the net
proceeds of the spin-off, and reduced its debt-tocapitalization
ratio from approximately 70 percent to
30 percent. In a 1990 tribute to Valero’s first decade,
Benninger said the entire L.P. effort was something to
behold. “The formation of Valero Natural Gas Partners,
L.P., is a tribute to the quality and the character of the
people we have at Valero,” Benninger said. “It wasn’t
any one person who accomplished the formation of the
partnership; it took the effort of more than 100 people.”
Six years after the limited partnership began, Valero
solidified its finances and bought back the outstanding
shares. The company, committed to being a leader
in the energy industry, had survived its first 10 years.
“If you believed what you read in the papers, we were
going to go bankrupt,” Greehey said in 1990. “But we
knew we weren’t. That was the difference.” By 1997, an
unprecedented wave of growth stood poised to begin.
We will build on our strengths. Our
momentum is only the beginning.
——
1997 Annual Report
11 Valero Lines 3oth anniversary edition

Strategy
for success
Change is the law of life,” President John F.
Kennedy once wrote. “And those who look
only to the past or present are certain to miss the
future.” It’s a fitting phrase for Valero in
the 1990s. The company had emerged from the 1980s
a little battle-weary from a decade of ups and downs.
But Valero refused to dwell on its past or settle for the
present. The future was calling.
Growth in the 90s and Beyond
Against the backdrop of the Gulf War, the early 1990s
were years of progression and change for Valero.
In addition to enhancing its Corpus Christi refining
operations, Valero began to cast its gaze internationally.
A celebration in November 1992 marked Valero’s first
big step toward a global operation. Valero Natural Gas
Partners, L.P., and Petroleos Mexicanos commemorated
the completion of a $4 million pipeline to Mexico, one of
only five connecting the United States with the emerging
natural gas market. The pipeline, which connected
Valero’s network to Mexico’s state-owned system, began
operations in August with about 125 million cubic feet
of gas per day moving through the 3.5-mile connection.
The project took nearly three years to plan and five weeks
to build.
With the energy industry rapidly consolidating in the mid-
1990s, Valero management realized that restructuring
– again – was best to position the company for future
growth and to unlock shareholder value. After 22 years
at the helm, Greehey announced he would retire from
daily life at Valero and turn over CEO duties to Valero
executive Joe Becraft in July 1996. Becraft had served as
both executive vice president and president and CEO of
the Valero’s natural gas and natural gas liquids division
since May 1995. Greehey agreed to stay on as Chairman
but left day-to-day decisions with Becraft. “After 22
challenging and rewarding years as CEO, the time is right
to turn the company over to new leadership,” Greehey told
the media in February 1996. “The company is in better
12

shape financially and operationally than ever before, and
we are well-positioned to continue that growth. I believe
Joe is the perfect person to lead Valero into the future.”
At the time, natural gas company stocks were selling at
a premium, while refiner stocks were stuck at a discount.
Although half of the company’s assets were in natural
gas, Valero was among those being traded as a refining
stock. That meant shareholders weren’t getting the
full value of Valero’s business. The industry was at the
bottom of its cycle, putting refining assets on the market
at deep discount. The worldwide movement to cleaner
fuels would eventually tighten refined product supplies –
making refineries more valuable and their products more
profitable. “We absolutely made the right call at the right
time,” said Executive Vice President and Chief Financial
Officer Mike Ciskowski, a 25-year veteran of Valero. “A lot
of people thought we were crazy because we were coming
out of a pretty low-margin environment.”
Valero decided to sell its natural gas business and pursue
refining. This change in direction — away from natural gas
and into refining — resulted in Greehey’s sudden return
to the CEO post after just four months in retirement.
Becraft resigned in November 1996, saying the refining
strategy may be in the best interest of the company, but
it did not align with his own expertise in the natural gas
field. Fellow board member at the time, Bob Dettmer,
praised his colleague for his leadership and dedication.
“The board and management of Valero commend Joe
Becraft for his contributions,” Dettmer said in 1996.
“The various initiatives undertaken over the past few
years – our expanded gas marketing presence, power
marketing, natural gas liquids marketing and now retail
gas marketing – have all come under Joe’s direction. He
showed a lot of loyalty to the company by recommending
the best course of action for Valero’s future – without
regard to his personal interests. We respect his decision.”
After months of preparation and hours of effort
from all areas of the company, Valero officials
Ed Benninger, Jay Browning, Danny Gibbons
and Rand Schmidt sign a seemingly endless row
of documents in July 1997 to complete the spinmerger
with PG&E.
13
Valero Lines 3oth anniversary edition

With that, the crucial search for the perfect natural gas
partner heated up. And by January 1997, a $1.5 billion
agreement hit the headlines. Valero would merge its
natural gas services business with San Francisco-based
PG&E Corporation and spin off the company’s refining
and marketing operations as a new independent company
that retained the Valero name. The company believed the
timing was perfect for the spin-merger, and the action
doubled shareholder value. “We got out (of the natural
gas business) at exactly the right time, and for top dollar,”
said Stan McLelland, former General Counsel for Valero.
“With that, it gave us capital and ability to pay down
debt and go out and acquire other refineries.” But Valero
still faced skeptics, who saw Valero essentially selling its
more established and profitable business to focus on an
uncertain future in refining.
The company had but a single, 170,000 BPD refinery
in Corpus Christi when the PG&E spin-merger was
announced. On paper, however, Valero envisioned for
itself a nationwide network of refineries with a combined
2 million BPD of refining capacity. Within five years. To
achieve this, Valero would not accept just any refinery.
Rather, it focused on operations that met four key criteria:
the ability to process more than 100,000 BPD of sour
crude; upgrade capability, with the ability to increase
capacity and yields; access to water; and the ability to
immediately contribute to earnings.
Before the PG&E ink had dried (PG&E closed July 31,
1997), Valero reached an agreement to purchase three
refineries by acquiring Basis Petroleum Inc., a subsidiary
of New-York-based Salomon Inc., an investment firm.
The Basis refineries, located in Texas (Houston, Texas
City) and Louisiana (Krotz Springs) were purchased at 10
cents on the dollar of replacement cost. Valero’s refining
capacity nearly tripled to more than 500,000 barrels per
day, making it the fourth largest independent refiner in
the nation. The $485 million acquisition took Valero to
a new level in size and scope. “We told people that yes,
refining was at the bottom of the cycle, but that created
a great opportunity for us to acquire assets at good
values,” said Keith Booke, former Chief Administrative
Officer for Valero (1996 to 2006). “We saw demand for
refined products growing … Did the rest of the market
believe it? Absolutely not.”
The former Basis plants represented both a tremendous
value and a tremendous challenge. Maintenance and
reliability issues required attention from day one, as
did employees who were looking for a reason to trust
Valero at the time. So, company officials took time
to explain the new culture and plans for the future, to
assure employees that brighter days were ahead, and to
address questions and concerns. Valero created volunteer
councils, launched spirited United Way campaigns and
other activities, and met their new communities with
Houston
Texas City
Strategy for Success
14

outreach projects and enthusiasm. The effort paid off
as the newly owned refineries began to grow their own
presence. Valero’s efforts to quickly improve efficiencies
and reduce expenses made the refineries profitable for
the first time in many years. Although Valero owned
the plants for just six months in 1997, they contributed
$84 million to the company’s operating earnings.
It was the dawn of a new era. As a result of the natural
gas spin-off and restructuring, 1997 was – to that point –
the company’s most rewarding and most profitable year
in its history.
More than refining. Redefining.
——
Valero Energy Annual Report, 1998
In September 1998, Valero aggressively secured a
foothold in the Northeast to become the secondlargest
independent refining company in the nation.
Its fifth refinery purchase – Mobil’s 155,000 BPD
plant in Paulsboro, N.J. – cost $228 million plus
$108 million for inventories and working capital. With
Paulsboro, Valero’s refining capacity increased by another
25 percent, giving the company a formidable throughput
capacity of 735,000 BPD barely a year into its acquisition
mode. In addition, the refinery diversified the company’s
product slate as one of the top-performing lube plants
in North America at the time. Like the Basis acquisition,
however, there was good reason for the steep discount.
The 80-year-old refinery was in disrepair, and many
operating units were abandoned or rusting away. Within
weeks of purchase, the refinery’s makeover began, and
Valero Pride officially arrived in the Northeast. Paulsboro
represented Valero’s first transaction with one of the
world’s “major” oil companies and bolstered its presence
in the U.S. refining business.
acquisition didn’t just give Valero access to the West
Coast market, it put the company on the industry map.
It was a bittersweet transaction for Exxon, however,
whose complex Benicia operation was (and continues
to be) one of the most profitable in the nation. But in
order for Exxon to complete its merger with Mobil at the
time, the Federal Trade Commission insisted the asset
be sold. “This was Exxon’s most profitable refinery, and
they would never have sold it if the FTC had not required
it,” said Rich Marcogliese, former plant manager of the
Benicia Refinery and current Executive Vice President and
Chief Operating Officer. “It’s hard to imagine a better
strategic investment for Valero and its shareholders.”
Before Valero could do all that it envisioned, however,
it first had to finalize the acquisition with Exxon. The
bidding process was hard-fought between Valero and its
competitors. But Exxon officials made it clear that the
Paulsboro
California Shines on Valero
Considered one of the most important strategic
acquisitions in Valero’s history, the company in 2000
acquired Exxon’s 165,000 BPD refinery in Benicia, Calif.,
a small community northeast of San Francisco. The
In 1998, Valero purchased Mobil’s refinery in Paulsboro, New Jersey, giving
the company geographic diversity like never before. Valero became the nation’s
second-largest independent refining company, with a throughput capacity of
735,000 BPD.
15 Valero Lines 3oth anniversary edition

On May 15, 2000, Valero
closed on the purchase of
ExxonMobil Corporation’s
prized refinery in the hills
of Benicia, California. The
acquisition not only ushered
Valero into the retail
market, it gave the company
unprecedented power – the
leverage it needed to enter the
“big leagues” of refining.
refinery would be sold to the company with the best bid,
not necessarily the highest bid. The refinery would go to
whichever company could promise the best future for the
refinery, its employees and community, and satisfy both
the Federal Trade Commission and the California Attorney
General’s Office. In letters, phone calls and face-to-face
visits, Valero committed to taking care of all aspects
of the operation. That was all Exxon needed to know.
It accepted Valero’s final bid at $895 million. “We are
pleased to have completed this agreement with Valero,”
Exxon senior vice president Gene Renna told the media in
May 2000. “Valero has a strong refining record, offered
comparable pay, benefits, and employment opportunities
to our employees, has a history of community involvement
and will be an effective retail marketer.” By summer, the
gold-and-green stacks of Benicia – painted to match the
rolling hills around it – were solidly part of the Valero
family. Its first retail brand, meanwhile, greeted consumers
with the look of a major brand store with the value of an
independent.
A Flagship Refinery Grows
In some ways, Valero’s $110 million acquisition of El
Paso Corporation’s Corpus Christi refinery and logistics
assets in 2001 took Valero back to its roots. The facilities
had been owned and operated for 40 years by the very
company from which Valero was born – Coastal – before
the infamous company and its assets were bought by El
Paso. The 115,000 BPD refinery, located just one mile
east of Valero’s first Corpus Christi refinery, was a semicomplex
plant capable of processing heavy, high-sulfur
crude oil – precisely Valero’s niche. The El Paso refinery
came to be known as Valero’s “East Plant,” and helped
create a 340,000 BPD refining complex on the shores
of the Corpus Christi ship channel. The new employees
there – like at other previously acquired facilities – soon
began to understand the impact of Valero’s ownership.
The acquisition also marked Valero’s entry into refined
product pipeline operations with El Paso’s three
intrastate pipelines and terminals, and allowed Valero to
ship its refined products from Corpus Christi to markets
in Houston, Victoria, San Antonio and the Rio Grande
Valley. Within one year of purchase, Valero’s investment
had paid out.
Strategy for Success
16

Barely a month later, Valero became one of the top five
asphalt producers in the nation. Its purchase of Huntway
Refining Company – with two asphalt refineries in
California – ushered Valero into the West Coast asphalt
market. “If there’s an ‘A list’ for asphalt refineries, these
facilities and their employees are on it,” said Gary Arthur,
former manager of specialty products marketing and
current President of Valero Retail. “This acquisition was
a stepping stone to producing higher-quality asphalts
and expanding our asphalt technical know-how.” No
truer words were spoken. All of Valero’s past acquisitions
were stepping stones to greater achievements. Investors
and employees were about to see them all unfold.
Welcome to ‘the new Valero.’
——
Headline, 2002 Special Valero Lines
In May 2001, Valero made its largest acquisition to that
point – the $6 billion purchase of San Antonio-based
competitor Ultramar Diamond Shamrock Corp (UDS).
What started as casual conversations became one of
the fastest-moving mergers in business history. The
companies announced to the world that Valero – the
smaller of the two companies – would more than double
in size by acquiring UDS. The transaction turned Valero
into the second-largest independent refiner in the nation,
with 13 refineries, a throughput capacity of approximately
2 million BPD, and more than 20,000 employees in the
United States and Canada. A retail network and an
interest in a pipelines and terminals partnership also was
part of the deal. In just seven months, Valero closed with
UDS and celebrated the fulfillment of its five-year goal, to
process 2 million BPD, well ahead of schedule.
At the center of the UDS empire were six refineries
– Ardmore, Okla., Wilmington, Calif., Denver, Colo.
(sold to Suncor Energy for $30 million in June 2005),
McKee and Three Rivers, Texas, and Quebec, Canada. A
seventh refinery – the Golden Eagle Refinery in Northern
California – was sold along with 70 retail sites to Tesoro
Petroleum in 2002 for $1.075 billion to satisfy Federal
Trade Commission requirements. What remained for
Valero was a refining powerhouse, one of the nation’s
largest retail operations with approximately 5,000 retail
outlets in the U.S. and Canada, and a stake in a midstream
business called Shamrock Logistics L.P., later
renamed Valero L.P. *
Valero’s 2001 acquisition of El Paso Corporation’s Corpus Christi refinery and logistics assets (far left) helped create a 340,000 BPD refining empire on the shores of
the Corpus Christi Ship Channel. Not a month later, Valero claimed new bragging rights as one of the top five asphalt producers in the nation with the purchase of two
asphalt refineries in California (middle, right).
17 Valero Lines 3oth anniversary edition

As a former UDS executive, Valero CEO Bill Klesse still
recalls the diversity and sheer size of the acquisition
in 2001. “The UDS deal gave Valero the size it needed
to take on more risk going forward,” said Klesse,
who became CEO in 2006. “It gave Valero a lot more
mass, and with that, the ability and the opportunity
to invest in places like St. Charles and Aruba.”
The deal also gave Valero entry into sweet crude
refining, and into new business territories in Canada.
With the close of 2001, Valero was indeed a whole new
company. Purpose-driven growth was its guidepost, now
even more attainable with the financial stability created
by UDS. The addition meant even more employees
and instant ownership of 1,000 retail stores and 3,000
branded outlets. Through it all, Valero continued to
focus on sour crude refining and capture the benefits of
diversification. While the refineries would provide synergy
and bigger geographic punch to Valero’s presence in
North America, the new retail arm gave the company
something refining could not: a face to the general public.
UDS’ Diamond Shamrock brand had been around since
the 1970s and was a fixture in certain parts of the country
– particularly its headquarters state of Texas. Before that,
Ultramar stores in Eastern Canada had been in operation
since the 1960s. And even earlier, Diamond Shamrock’s
predecessors, including the original Shamrock brand,
had operated successfully since the 1930s. The entire
system had been supported by the UDS Credit Service
Center in Amarillo, Texas, which to this day serves credit
card customers each year. By 2002, Valero had improved
the profitability of its retail division by investing in topperforming
sites, including remodeling or even rebuilding
stores, acquiring new sites and closing marginal sites.
As a side venture, Valero also began to grow a branded
wholesale business that began with the Exxon purchase
in 2000 but grew with the UDS acquisition in 2001. In the
wholesale market, Valero could build brand recognition
and customer loyalty through independent operations,
without the high cost of operating and staffing its own
stores. These “jobbers,” as they are known, offered Valero
credit cards and had access to advertising and promotions
but were independently owned and operated. In August
2006, Valero announced an 11-year agreement with
Susser Petroleum – the largest single-branded wholesale
deal in Valero history in fuel volumes and number of
sites – to supply fuel and brand programs to more than
300 of Susser’s network of 324 retail stores in Texas and
Oklahoma. Valero also began branding selected sites
from Susser’s network of 352 wholesale dealers – thus
becoming Texas’ No. 1 rack fuel marketer with 1,900
branded wholesale and company-owned locations, and
significant unbranded sales volumes around the state.
By 2007, Valero had earned Convenience Store Chain of
the Year by Convenience Store Magazine and was actively
looking to grow its jobber network. It was clear Valero
needed a strong national image to hook consumers and
investors. So on June 30, 2005, on the eve of one of the
busiest driving holidays of the year, Valero announced
its most ambitious retail plans yet – transform its entire
U.S. network to the Valero brand, converting Diamond
Shamrock stores to Valero’s signature teal and gold.
A plot of land alongside Interstate 37 in Corpus Christi,
Texas – within view of Valero’s flagship refinery – gave
birth to the first company-owned, branded Valero site
outside of California. By the end of 2009, the company
operated 1,000 Valero Corner Stores and held contracts
with more than 4,000 jobber sites. Diamond Shamrock,
Shamrock and Ultramar brands still dotted the U.S.
landscape as well.
St. Charles:
A Diamond in the Rough
In May 2003, Valero announced its $500 million purchase
agreement for Orion Refining Corporation’s 185,000
BPD refinery in south Louisiana – roughly 20 cents on the
dollar compared with replacement value. The investment
community saw the refinery as a run-down plant with a
host of operational issues and a parent company that
was deep in bankruptcy, but some analysts saw beauty
in the deal. Valero’s solid financial footing (as a result of
deconsolidating Valero L.P. and Valero Energy in 2002)
allowed the purchase to happen without compromising
the company’s balance sheet. The facility, located 15
miles west of New Orleans, had the makings of one of the
Strategy for Success
18

Crews make a historic sign change as Valero becomes owner of UDS and its assets – namely, six refineries and some 5,000 retail outlets in the United States and Canada.
most complex refineries in the nation. By July 2003, the
deal was sealed.
Rich Marcogliese, then Executive Vice President of
Operations and current COO, sensed a bright future for
the refinery in 2001, thanks to the partnership that took
place. “When you combine the skills of our experts with
the skills, experience and enthusiasm of the St. Charles
employees, the future for the refinery looks incredibly
bright,” Marcogliese said. The future came true in record
time. Profits began posting within a month of Valero’s
purchase. With that success, however, came the need
to comfort a community that still feared its industrial
neighbor and its poor environmental history. In letters to
residents in the days prior to Valero’s purchase, executives
openly committed to a responsible operation and honest
dialogue with refinery neighbors. “We are looking forward
to working with all of you, and we’re confident that you’ll
find Valero to be a good neighbor worthy of your trust
and confidence,” one letter read. In the 18 months that
followed, Valero reduced the refinery’s sulfur dioxide
emissions from acid gas flaring by 96 percent. St. Charles
went on to receive the Chairman’s Environmental Award
in 2005 for its commitment to protecting its community
and the Chairman’s Safety Award a year later. More
importantly, residents came to support their refining
neighbor and tout it as a community asset. The refinery’s
environmental leadership would grow even from there,
earning governor’s awards and local accolades in years
to come.
From Canada to the Caribbean …
Nearly a year after bringing St. Charles on board, Valero
extended its international reach when it acquired El Paso
Corporation’s 315,000 BPD refinery on the Caribbean
island of Aruba. Like Valero’s other acquisitions, this
refinery purchase for $365 million, plus $100 million for
related marine, bunkering and marketing operations,
was made for pennies on the dollar compared to
replacement. The island operation fit perfectly with
Valero’s acquisition strategy and gave it yet another
outlet for processing heavy, sour crude. Geographic
diversity also was key, but much work had to be done
to integrate the plant physically and philosophically,
using the company’s proven formula (management
expertise, mentor-based learning and upgrades) to reach
success. For their part, Aruba employees wasted no time
19 Valero Lines 3oth anniversary edition

of 790,000 BPD more throughput capacity to its system
(3.3 million BPD companywide).
On July 14, 2005, the company found itself back at the
place where it all began – the New York Stock Exchange
to celebrate its 25 th Anniversary. But this time, Valero was
no industry youngster on uneasy legs. Valero had become
the continent’s largest independent refining company,
with strategic know-how to enjoy the “Golden Age” of
refining but a grounded perspective on an ever-changing
marketplace.
In 2003, Valero made a purchase that would single-handedly prove its ability
to turn an industry poor performer into a profitable, community-focused plant.
The St. Charles Refinery has become a source of pride in southern Louisiana.
embracing the company’s volunteer spirit. In lieu of a
United Way on the island, employees began an “Aruba
Way” campaign and gave more than $292,000 (with
company match) to worthy community groups on the
island. In the first year alone, Valero also invested $133
million in environmental improvements; committed
another $900 million in capital improvements over the
next five years; contributed $500,000 to needy nonprofit
groups; formed a Volunteer Council that worked more
than 5,000 volunteer hours in its first year; initiated a
scholarship program for the children of employees; and
provided enhanced benefits and employee programs to
the work force.
Premcor Deal Delivers
In 2005, Bill Greehey made the decision to retire again
as CEO but remain as company chairman. Bill Klesse
assumed the post on January 1, 2006, with a challenging
year ahead of him and gratitude for the work it took
to get the company where it was. “All of us at Valero
thank Bill for his leadership and commitment to our
success over the years,” Klesse wrote in his address to
shareholders that year. The future was uncertain, but
Klesse thanked his employees, shareholders and executive
team for their faith and investment in an outstanding
company. “In today’s rapidly changing world, companies
need every advantage to compete and succeed,” he said
in 2006. “At Valero, we have worked hard to recruit
employees, develop strategies and acquire assets
that … make us a world-class competitor.” While previous
leadership had helped the company grow, a new CEO
would help the company grow up.
In celebration of Valero’s remarkable rise, then Chairman and CEO Bill Greehey
rings the closing bell of the New York Stock Exchange on July 14, 2005 – 25
years after launching a company that no one expected to survive.
In April 2005, Valero surprised the industry and the
financial world yet again when it announced its largest
acquisition in company history – a $6.1 billion (plus debt
assumption) purchase of Premcor Inc. The Wall Street
Journal heralded the purchase in a front-page story, with
the headline: “Valero Energy to Buy Premcor as Refining
Sector Consolidates.” The closing date came sooner than
expected: September 1, 2005. Valero welcomed four
more sites to the fold – Port Arthur, Texas; Memphis,
Tenn; Delaware City, Del.; and Lima, Ohio – for a total
Strategy for Success
20

From its early roots with Ultramar Diamond Shamrock
to a national facelift in 2005, Valero’s retail brand is a
shining example of how flexibility has helped boost the
company’s bottom line.

commitments to safety, stakeholders, employees, the
environment and the community. Its internal mission: To
encourage employees to take these five essential principles
and put them into practice each and every day. Valero’s
Commitment to Excellence became a visual reminder of
expectations at every level, and provided the framework
for a new management system that emphasized safety
and stability at every turn. It also fueled the company’s
first-ever Social Responsibility Report, which highlighted
Valero’s accomplishments and activities in health
and safety, and efforts to protect the environment,
communities, employees and corporate ethics. “It’s not
enough for us to be a better refiner and marketer,” Klesse
states in the report. “We strive to be a better employer
and neighbor, too.” As a result, Valero consistently is
recognized as one of the world’s most-admired energy
companies, one of the best big companies to work for and
one of the best corporate citizens in the energy industry.
Looking Inward
In 2006, Valero financial results were still strong, posting
quarterly profits far and above the previous year. Third
quarter 2006 operating income was $2.3 billion,
compared to $1.9 billion achieved in the same period the
previous year. The company returned more cash than ever
to shareholders. After a decade of rapid growth through
acquisitions, Valero was naturally shifting its strategy to
achieve higher returns from existing assets.
In 2007, Valero’s management instituted a sweeping
set of guiding principles for the organization to achieve
excellence in business, industry and relationships with
employees and the community. Valero’s Commitment
to Excellence program highlighted the company’s
Unquestionably in 2007, volatility in the industry began
to swell. An economic downturn challenged even
the strongest of companies. But Valero’s leadership
empowered employees, encouraging improvements in
process safety and reliability, environmental stewardship,
operational and energy efficiency and community
response. Valero took home honors as Downstream
Business of the Year at the 2007 Platts Global Energy
Awards. The company’s employee injury rate consistently
beat Bureau of Labor Statistics averages, achieving
record results in 2008. Ten of Valero’s 14 U.S. refineries
carried “Star Site” status, reflecting the government’s
highest honors within OSHA’s Voluntary Protection
Program (VPP). Refinery environmental performance
vastly improved, and to date, more than $100 million in
annualized savings was achieved under Valero’s energy
stewardship program.
The company’s Commitment to Excellence campaign was
now a visible, audible call to arms for Valero employees.
To be successful in the industry, employees must do
their best every day, in everything they do, and show the
world where the real muscle of the company lives – in
its dedicated, unshakeable work force. “Our employees
drive all of our initiatives, the success of our company
Strategy for Success
22

As a leading refiner and marketer, we are
committed to following these guiding principles
in pursuing and achieving excellence in our
business, industry and relationships with our
employees and communities.
SAFETY
The safety of our employees, our operations
and our communities is our highest priority.
Valero CEO, President and Chairman Bill Klesse (seated, front right) gathers
with the company’s leadership. The Valero Management Committee includes
(left to right): Mike Crownover (SVP Human Resources), Donna Titzman (VP
& Treasurer), Jay Browning (SVP & Corporate Secretary), Clay Killinger (SVP &
Controller), Eric Fisher (VP Investor Relations and Corporate Communications),
Gary Arthur (President, Retail), Joe Gorder (EVP Marketing and Supply), Hal
Zesch (SVP & CIO), Kim Bowers (EVP & General Counsel), Gene Edwards (EVP
Corporate Development and Strategic Planning), Rich Marcogliese (EVP & COO)
and Mike Ciskowski (EVP & CFO).
and improved shareholder returns,” Klesse said in 2008.
“Behind every achievement are hard-working, dedicated,
smart people who drive our business and care for our
communities… Our goal is to continue to foster their
growth so that, together, we can realize our vision and
the earnings potential of our assets.”
For all of its enthusiasm and expertise, even the strongest
of wills within the refining industry were challenged
in 2008 and 2009. Valero had seen a challenging,
180-degree shift in the refining industry. From drastic
reductions in demand for refined products to the
disappearance of sour crude discounts, the company
required a change in direction. The best course was to
evaluate the company’s assets, review operational needs
and set the company on a path that could weather the
difficult market conditions. That meant making tough
decisions, including shedding operations that did not
fit Valero’s portfolio for the future. Among them, Lima,
Ohio, which sold to Husky Energy in July 2007 for
$1.9 billion plus working capital; Krotz Springs, which
sold to Alon Energy in July 2008 for $476 million, and
Delaware City, which announced permanent closure
STAKEHOLDERS
We are committed to delivering long-term value
to all stakeholders – our employees, investors,
and customers – by pursuing profitable, valueenhancing
strategies with a focus on worldclass
operations.
OUR EMPLOYEES
Our employees are our # 1 asset and we provide
a challenging, enjoyable and rewarding work
environment, which fosters creative thinking,
teamwork, open communication, respect, and
opportunity for individual professional growth
and development.
THE ENVIRONMENT
We are committed to producing environmentally
clean products, while striving to improve and
enhance the environmental quality of our
operations within our local communities.
OUR COMMUNITIES
We are committed to taking a leadership role
in the communities in which we live and work
by providing company support and encouraging
employee involvement.
23 Valero Lines 3oth anniversary edition

at the end of 2009. As Valero reviews the strength and
viability of all of its assets, difficult decisions are made
to bring substantial cost savings and cash benefits to the
company to ensure its success for the future.
Embracing Ethanol
Looking to the future, Klesse told shareholders that the
company would willingly embrace the call for innovation
and development of alternative fuels and other energy
sources. In 2008 the strategy began with a new 50
megawatt wind farm (33 turbines) outside its McKee
Refinery in Sunray, Texas, and grew to include even more
alternative fuels investments in 2009.
Valero was the first refiner to make a sizable investment
in the ethanol business with its purchase of seven worldscale
ethanol plants from VeraSun Energy. The move
triggered a flurry of media and analyst activity, as it
signaled the rapidly changing rules of energy investment.
For a traditional petroleum refiner to embrace ethanol,
a government-mandated blendstock for gasoline,
conditions would have to be ideal. As it happened,
VeraSun was in bankruptcy and looking for someone
to save its operation and the hundreds of jobs that
were threatened in the heartland of America. Valero
won its bid for the plants on March 18, 2009, agreeing
to pay $477 million – roughly 30 percent of the plants’
estimated replacement cost – for locations in Albert City,
Iowa; Albion, Neb.; Aurora, S.D.; Charles City, Iowa; Fort
Dodge, Iowa; Hartley, Iowa; and Welcome, Minn. A site
under development in Reynolds, Ind., also was part of
the deal. On February 6, 2009, company executive Gene
Edwards announced a bid for the plants to employees,
stressing how the deal would compliment Valero’s
portfolio and provide long-term growth opportunities
for shareholders. “VeraSun is one of the nation’s largest
ethanol producers, but has very recently filed for
bankruptcy and is selling high quality assets at a fraction
of replacement cost,” Edwards told employees. “This is
how Valero successfully grew its refinery portfolio, and
we now have a similar opportunity with ethanol.”
Valero Renewables Plant
Albion, Nebraska
Strategy for Success
24

Valero closed the acquisition of five of the plants on April
1, 2009, a sixth plant on April 9, 2009, and a seventh plant
on May 6, 2009. In so doing, Valero became one of the
nation’s largest ethanol manufacturers, producing 780
million gallons annually under a new subsidiary, Valero
Renewable Fuels. The acquisition was a good business fit,
with rising federal mandates to blend ethanol – a cornbased
product – with gasoline. Valero quickly mobilized
teams from across several departments and disciplines
to the plants to have operations ready on day one – less
than two weeks after the auction. Valero’s flexibility again
proved profitable, and by the third quarter of 2009, the
plants were running at capacity.
But the investment was only the beginning. Just seven
months later, Valero would make the ethanol leap again
– this time investing $200 million in two former VeraSun
plants in Linden, Ind. and Bloomingburg, Ohio, as well
$72 million for a third plant owned by Renew Energy LLC
in Jefferson, Wis. When finalized, the deals – purchased
at 41 percent of replacement cost – will bring Valero’s
annual production capacity to 1.1 billion gallons per year.
From the McKee Wind Farm to processes that create
fuel from algae and animal fat, Valero Renewables
has taken the company to its farthest point yet in the
alternative fuels industry – evidence that the company is
constantly evaluating opportunities that bring value to
the shareholder and to Valero itself.
Our Company
With growth as its backdrop, Valero Energy Corporation
gained prominence and notoriety in an often unglamorous
industry. Time and again, our company was painted as
a different sort of venture – one that retained much of
its small-company beliefs despite the size of its work
force, refining capacity or business direction. Valero as
a company continually has chosen to go its own way –
with dedicated employees and a solid work ethic. It is
a core belief system that has garnered recognition from
the industry as well as policymakers and investors.
They might question business decisions from time to
time, but they do not question Valero’s strength as an
ethical, experienced and socially responsible company.
Our products improve people’s lives, are economical
and reliable – a statement few can dispute in an era of
unprecedented need. “Valero works hard for all of its
stakeholders with sound business principles, planning
and products that improve consumers’ lives,” Klesse told
stockholders in 2009. “The jobs we provide, the taxes we
pay, and the impact we have on the neighborhoods and
communities around our facilities show the truly positive
role we have in our society. That is our commitment.”
*In December 2006, Valero completed the sale of its ownership interest in
Valero GP Holdings, LLC, successfully spinning off its logistics operations
(Valero L.P.) and its general partner, Valero GP Holdings. The new company
was renamed NuStar Energy.
25 Valero Lines 3oth anniversary edition

2010
VALERO MAP of OPERATIONS
RETAIL AND BRANDED WHOLESALE PRESENCE
WHOLESALE MARKETING PRESENCE
VALERO REFINERIES
VALERO ETHANOL PLANTS
VALERO ETHANOL PLANT
(ACQUISITION PENDING EARLY 2010)
CAMERON HIGHWAY OIL PIPELINE PROJECT
(JOINT VENTURE)
THIRD-PARTY OFFSHORE PLATFORMS
VALERO HEADQUARTERS
BENICIA
ULTRAMAR—CANADIAN OPERATIONS
CREDIT CARD CENTER
WILMINGTON
ARUBA
MCKEE
ARDMORE
Strategy Map of Operations
for Success 26

AURORA
WELCOME
ALBERT CITY
FORT DODGE
CHARLES CITY
JEFFERSON
ALBION
HARTLEY
JEAN GAULIN
(QUEBEC)
PAULSBORO
DELAWARE CITY
BLOOMINGBURG
LINDEN
MEMPHIS
SAN ANTONIO
ST. CHARLES
THREE RIVERS
PORT ARTHUR
BILL GREEHEY
(CORPUS CHRISTI EAST & WEST)
HOUSTON
TEXAS CITY
27 Valero Lines 3oth anniversary edition

The heartbeat
of valero
There’s no question Valero is a different
kind of company. Some say it’s because the
company beat the odds to become one of
the most successful and respected refining
and marketing companies in the country. But most Valero
employees believe the corporate culture and special
company spirit truly set them apart. Thanks to a wellconnected
Valero Volunteer Council network, employees
touch thousands of lives and help hundreds of nonprofit
agencies in all major Valero communities.
Since the first Volunteer Council program was launched
in 1983, employee volunteer hours have remained
strong, without regard to the ups and downs of the
energy industry, changes in the company’s structure or
size of the work force. Today, hundreds of thousands of
hours continue to be logged by dedicated, hard-working
employees who help because they want to, not because
they must. Volunteer Councils assemble on their own
time to discuss the needs of each community and tackle
what they can. Mentorships, shelter support, holiday
events and emergency relief are merely a piece of the
vast network of help available to the residents of Valero
communities. The result of this work is a positive and
palpable feeling among employees that they have made
a difference beyond their skill sets at the refinery or at
the office. Particularly in challenging times, the Valero
Volunteer Councils illustrate an important distinction
in the world of corporate philanthropy – money doesn’t
solve problems; people do.
United Way
In late 1979, Valero marked its arrival in the Alamo City
in a big way when the company committed to supporting
the San Antonio United Way campaign. Determined to
make a positive difference in the community – though
still at odds with the city over a gas-supply contract –
Valero put its heart and soul into its first campaign. As a
result, employees had the highest per capita contribution
of any local company – $139.49 – and nearly all 486
28

Valero San Antonio Volunteer Council 2009
corporate employees gave to the campaign. In total,
they contributed $67,793, and when combined with
the corporate match, Valero’s gift to United Way was
more than $100,000. The contribution not only made
an impact on local agencies, it made a statement to city
leaders. San Antonio was Valero’s new home, and the
company was committed to doing its part to make the
community a better place to live and work.
Valero’s genuine spirit … has created
a brighter future for countless individuals
and families across the nation.
——
Howard Nolan, President, United Way of San Antonio and
Bexar County
Since then, Valero employees have increased annual
contributions to United Way, most recently pledging more
than $11 million to United Way agencies in communities
nationwide. Valero’s recently acquired ethanol plants
marked a milestone of their own in 2009 with their firstever
United Way campaigns. With corporate support and
an enthusiastic team at each location, the sites raised over
$103,000. The money in 2010 will reach needy families
and individuals throughout the nation’s heartland, at a
time when a national recession is challenging United Way
agencies to meet even greater demands for food, shelter
assistance and family support.
Valero CEO Bill Klesse spends time with a young advocate for the Muscular
Dystrophy Association, one of the many national organizations supported annually
by Valero and the Valero Energy Foundation.
29 Valero Lines 3oth anniversary edition

to coordinate the tournament itself. Starting in 1996, the
first three tournaments raised a total of $1.3 million for
51 children’s charities. But the stakes were raised again
when Valero claimed the title sponsorship of the Texas
Open in 2001.
Through its partnership with Habitat for Humanity, Valero Volunteers have built
homes for families in several states.
In 1993, Valero was honored with the United Way’s Spirit
of America Award for Excellence – its highest corporate
honor. At the time, Valero was the smallest company ever
to have won the national award. Valero had just 1,900
employees, revenues of $12 billion and was ranked No.
309 on the Fortune 500 list. With much excitement,
the company received this award again in 2004, making
Valero only the second company in United Way’s history
to win this award twice. By then, the company boasted
20,000 employees, revenues of $50 billion and a ranking
of No. 34 on the Fortune 500 list. Valero’s companywide
United Way gift of $7.5 million ranked among the top 30
campaigns in the nation. Six years later, in 2010, Valero
will compete for the award again. “Valero has made
headlines for many reasons through the years, but the
one thing I come back to over and over is this company’s
drive for community good,” said Kim Bowers, Executive
Vice President and General Counsel. “It’s remarkable to
see the length to which each location is willing to go.”
More Than Great Golf
The Valero Benefit for Children Golf
Classic is the company’s largest
grassroots fundraiser. Employees are
involved with every aspect of the event,
from soliciting sponsorships from suppliers and vendors,
and nominating the children’s charities, to volunteering
Held in the Alamo City since 1922, the Texas Open had
lost its title sponsor and was in danger of being moved
to another city. But Valero and San Antonio fought hard
to keep the event. The prestigious tournament was a
major economic generator, and it played an important
role in promoting the city as a golf destination. With
Valero’s new retail presence, which resulted from the
UDS acquisition, the company was able to step in and
save the important piece of history.
After becoming Texas Open title sponsor in 2001,
the Benefit for Children tournament has increased its
charitable contribution by $1 million or more every year
and spread those dollars to children’s charities across the
Valero system. In 2009, the Valero Texas Open raised a
remarkable $8 million for charity, securing its place – for
the third consecutive year – as the top PGA tournament
for charitable giving and one of the most successful
outcomes in the Texas Open’s 87-year history. Valero
has raised more than $45 million since 2002 through its
Texas Open activity. Bill Greehey’s vision and leadership
made the event a tremendous success.
Volunteerism the Valero Way
In 2008, Volunteer Councils led the company’s first
national Food Bank campaign. In California, volunteers
helped launch the Bay Area’s “2-1-1 Project,” which
allowed the United Way to answer 148,000 calls for
assistance in its first year. The Valero Wilmington Refinery
was named “Distinguished Citizen of the Year” by the
Long Beach Boy Scouts for its contributions to youth
and the community. Valero was only the third business
and first oil company to be recognized in the award’s 20-
year history. Elsewhere, volunteers have increased Meals
on Wheels routes, transformed lives through a truancy
counseling program, and fed hundreds of hungry families
through the company’s own “Stuff the Truck” initiative.
“In my 17 years of working in the nonprofit community,
The Heartbeat of Valero
30

From the Valero Texas Open to the United Way, communities find a dedicated resource of funds and volunteerism in Valero Energy. The company’s biggest civic
mission – improving the lives of children – is given a big boost annually through Valero’s generous sponsors, business partners and employees.
I have never seen a corporation do a better job in serving
our community than Valero Energy Corporation,” wrote
one San Antonio beneficiary in 2009. The words are a
source of deep motivation to volunteers to continue their
26-year legacy.
Volunteerism is a proud tradition
at Valero. And I can assure you, they
are fulfilling their mission.
——
Howard Peak, former San Antonio mayor, 2001
For its dedication to employees, Valero has continually
ranked as one of Fortune magazine’s “100 Best Companies
to Work For” in America. It has also been named one of
IndustryWeek’s 100 Best-Managed Companies in the
World, and was honored with the 2004 Pride Award,
which recognizes the company with the greatest employee
pride among Fortune Magazine’s “100 Best Companies.”
In 1998, when Valero was ranked No. 294 on the Fortune
In 2008 and 2009, Valero celebrated the completion of two company-sponsored
Habitat houses.
31 Valero Lines 3oth anniversary edition

500, the company ranked No. 15 in terms of philanthropy
in a study done by the Council on Economic Priorities and
Worth Magazine. In 1999, Valero was also one of only nine
U.S. companies to receive the Points of Light Foundation’s
Award for Excellence in Corporate Community Service.
These honors are a tribute to the employees’ dedication.
“We think highly of Valero, and I am thrilled that Valero
is here and part of our community,” former San Antonio
Mayor Lila Cockrell said in 2005. “Twenty-five years
ago, I felt we were getting a very important asset in the
relocation of the company and that it would bring in
jobs and would bring in growth. But I don’t think any
of us could have foreseen that … it would become the
corporation it is today. It is fantastic.”
Valero exemplifies how corporate America
can be an important and valuable resource for
volunteer action. We applaud their efforts.
——
Robert K. Goodwin, president and CEO of the Points of
Light Foundation, Valero Lines, January 2000
In 2005, Valero went far beyond the reach of its
communities to help those across the globe affected by
the tsunami. Employees donated $150,000, and with
Valero’s corporate contribution, more than $400,000
went to the American Red Cross to help with its relief
effort. And, as many companies did after September 11,
2001, Valero rallied its employees for a massive goodwill
effort in response to the terrorist attacks in New York,
Washington D.C. and Pennsylvania. From donating blood
and money to collecting food and supplies, employees
demonstrated American pride and helped put the nation
on the road to recovery. In a fashion that has become
almost routine in emergency situations, Valero and its
employees mobilized to support those who were affected
by the attacks. The company contributed $250,000 to
the American Red Cross, and delivered $15,000 worth of
supplies to rescue workers in New York City.
Thanks to the organization and dedication of Valero
Volunteer Councils everywhere, the company’s impact on
the community is organized, efficient and impactful. In
San Antonio, thousands of needy families in the heart of
the city receive school supplies for the new school year
on the grounds of Valero Field, a ballpark (renovated by
Valero in 1994) in the middle of a gang-ridden public
housing project. The event transforms the field into a
rally for education, with Valero Volunteers handing out
backpacks and supplies, serving meals and providing live
music to brighten the day. “The SAHA Kid’s event was a
huge success – never seen so many poor people in my life –
the economy has really hit these families very hard,” wrote
one Valero Volunteer. Without Valero’s presence, many of
The Heartbeat of Valero
32

these at-risk children do not make it to school the first day
– lacking the essentials needed for a successful year.
Valero locations in 2008 organized a national food drive
event, called “Stuff the Truck,” to benefit all food banks
in participating areas. With full corporate support, the
effort was well-publicized and generated thousands of
pounds of food for the hungry. Without a network of
willing volunteers already established, a national response
of this kind would be difficult to pull off. Valero Volunteers
ended 2008 with more than 148,000 hours invested in
their communities. In addition, hundreds of employees
serve as board members for nonprofit agencies in their
areas, bringing Valero’s overall time commitment even
higher. In San Antonio alone, Valero Volunteers currently
serve 174 nonprofit boards and logged 62,000 volunteer
hours in 2008. Companywide in 2009, volunteer hours
have surpassed 56,000 so far.
Tale of Two Hurricanes
On August 29, 2005, Hurricane Katrina roared through
Louisiana and Mississippi, devastating the land and
leaving many dead and thousands homeless. Valero
employees, however, wasted no time in helping their
co-workers at the St. Charles Refinery, many of whom
lost family members and watched homes fall victim to
the storm. Valero spent an estimated $5 million in relief
efforts for St. Charles. In addition, the company gave $1
million to the American Red Cross immediately following
the hurricane, and $250,000 was given to the U.S. Golf
Hurricane Relief Fund as part of the 2005 Valero Texas
Open PGA golf tournament. Employees companywide
raised another $290,409, alongside countless clothing
drives, blood drives and thousands of volunteer hours at
relief sites. In just two weeks, Valero volunteers across
the country contributed close to 8,600 hours toward
Hurricane Katrina relief. And, the company mobilized its
SAFE Fund – an astounding $545,000 – as well as other
resources to ease the burden on displaced workers.
Unbelievably, less than a month later, Hurricane Rita took
a mean turn northward and slammed into Valero’s newly
acquired Port Arthur Refinery. The 19th named hurricane
of 2005 hit Port Arthur with fury. But the response
was equally strong. “I have been in the business for
31 years, and I’ve seen nothing like this before,” Rich
Marcogliese, Executive Vice President of Operations,
told the media in September 2005. “You always go
through hurricane-preparedness drills in the Gulf, but to
see 14 feet of flooding in some areas, not even counting
storm surge, inside a refinery and not be down for
weeks on end, that’s unprecedented.” The outpouring
of support for Valero’s newest employees – as well as
33 Valero Lines 3oth anniversary edition

Hours after Hurricane Rita roared across
Valero’s Port Arthur Refinery, floodwaters
covered much of the refinery grounds and
surrounded this storage tank. The company’s
response was immediate — from employee
assistance to refinery restart — and the plant
was back online in less than three weeks. It was
the first Gulf Coast plant downed by the storm
to restart after Rita.
media repeatedly requested tours of Valero’s refineries,
with their “Valeroville” villages, onsite support and
camaraderie. Unusual to the world, perhaps, but on par
with Valero’s culture.
Former Valero CEO Bill Greehey personally visited with refinery employees
following two back-to-back hurricanes in 2005. Through their stories, Valero
learned of the mass devastation in Texas and Louisiana, and quickly organized a
massive response of food, shelter and financial aid.
for communities and their law enforcement personnel –
made a lasting impression. More than $650,000 in SAFE
Fund grants went out, alongside food, clothing, sheets,
blankets, hats, chain saws, fuel and generators. National
Gasoline, electricity and food were in short supply
during both hurricanes. But while other sites shuttered
operations, Valero responded to its work force because
it was the right thing to do. “I came here two years ago,
and I’ve never seen anything like this. What I saw was
tremendous support,” one St. Charles employee said.
“People who had lost everything were helping those
with more immediate needs. If someone lost his whole
house, he would go and help his neighbor so they could
save that neighbor’s house. From the corporate support
to the co-worker support, people were helping each other
out. It was just overwhelming, the caring and support
that we got.”
Valero St. Charles restarted in just nine days – ahead of
any other refinery downed in the aftermath of Hurricane
The Heartbeat of Valero
34

Katrina. And Port Arthur, which secured electricity
from a generator shipped from Greece, illuminated
the otherwise darkened landscape weeks ahead of its
competitors. Such effort did not go unnoticed. President
Bush sent his thanks for Valero’s efforts post-Katrina.
And Texas Gov. Rick Perry told the media post-Rita that
were it not for Valero and other private industry, area
law enforcement would have patrolled Port Arthur on
bicycles rather than in cars. A story on the company’s
intranet launched on November 4, 2005 under the title,
“A Tale of Two Hurricanes.” The tribute highlighted
everything from heroism to company pride and included
a slide show of more than 300 images. And in the hopes
of packaging a tribute and memento for all Valero
employees, the company dedicated its next Valero Lines
magazine entirely to hurricane efforts.
Leading with Heart
Following hurricanes Katrina and Rita, Valero
employees would go on to weather other devastating
storms such as hurricanes Ike and Gustav in 2008.
The storms were a challenge and a call to arms for
Valero and the Valero Energy Foundation, which
helped entire communities get back on their feet. It
was not unlike responses organized for United Way, the
Sept. 11 terrorist attacks, Habitat for Humanity, the
National Multiple Sclerosis Society, the Children’s Miracle
Network, Meals on Wheels, Operation Call Home,
deployed U.S. military members or the thousands of
children awaiting help at local agencies. Valero employees
learn of a need, and they respond without hesitation.
“Valero and its employees do a terrific job of giving of
their time, their talent and their money to help make a
better life for someone less fortunate,” former Valero
executive Ed Benninger said in 2001. “But it does not end
there – it carries to the workplace as well. The spirit of
giving comes from the heart, and Valero is all heart.”
As it entered a new era in 2010, Valero and its employees
faced a new set of challenges. But the company still found
reason to recognize 30 years of teamwork and dedication
– success guided by the strength of its people. “This
uniqueness of Valero is seen clear across the board,”
Klesse said. “Terrific people make terrific things happen!”
35 Valero Lines 3oth anniversary edition

Safety &
environmental
From refineries and field offices to retail
stores and corporate headquarters, safety is
a cornerstone of Valero history. By the time
Valero arrived in 1980, the safety culture
was firmly entrenched following an overhaul of LoVaca
Gathering Company’s operations in the late 1970s. Once
Valero entered the refining business, its safety culture
became even more critical.
A commitment to safe operations was the first item listed
in the new company’s mission statement. Despite the
tremendous change it endured since then, Valero has not
wavered on safety expectations. To this day, it is the first
item of discussion at all executive management meetings,
and celebrations make reference to the latest safety
achievements. Best safety practices and safety incident
reports are shared among all refineries, and injury
rates consistently beat the industry average. “Safety is
integrated into every facet of the company’s operations,
from planning work through completion,” said Kirk
Saffell, Vice President of Health, Safety & Environmental.
“It is our way of doing business.”
One of the most visible ways Valero showcases its
safety record is through an annual Chairman’s Award.
Every January, refineries with the best records in safety,
environmental performance and reliability are celebrated
by Valero’s top management. The Chairman’s Safety
Award is the longest-running company award, dating
back to 1981. It honors the Valero refinery with the best
performance in a number of safety areas, including total
recordable injuries, loss-time injuries and process safety
management performance. “The refineries that achieve the
most in these areas … are also doing the most to advance
Valero in its mission to become a world-class competitor
in the global energy business,” said Rich Marcogliese,
Executive Vice President and Chief Operating Officer.
“We know that all of our refineries have achieved much
36

Leaders of several Valero refineries celebrate their Chairman’s Award recognition in 2009. The honors are given annually to recognize the best efforts in safety,
reliability, environmental performance and retail safety and environmental performance.
and are committed to excellence in all they do – from safe
and reliable operations, to environmental stewardship,
and involvement in communities. The Chairman’s Awards
recognize the ‘best of the best.’ ”
Valero has set a new standard
for safety and health excellence
in the refining industry.
——
John Miles, Retired OSHA Regional Administrator
In 2000, Valero employees took their safety commitment
to a higher level. By then, the company owned four
refineries thanks to its Basis acquisition, and safety
across the system was a constant topic of conversation.
A group of Valero Texas City employees researched
OSHA’s Voluntary Protection Program (VPP), the
federal government’s highest safety certification, and
Chairman’s Awards History
Safety
Environmental
1998 – Bill Greehey
2004 – St. Charles
1999 – Bill Greehey
2005 – Wilmington
2000 – Houston
2006 – Wilmington
2001 – Bill Greehey
2007 – Three Rivers
2002 – Denver, Three Rivers
2008 – Benicia
2003 – Bill Greehey
2004 – Wilmington
reliability
2005 – St. Charles
2006 – Benicia
2006 – Three Rivers
2007 – Jean Gaulin
2007 – St. Charles
2008 – Jean Gaulin
Retail Awards
Safety 2008 – Houston Zone 201
Environmental 2008 – Houston Zone 201
37 Valero Lines 3oth anniversary edition

The Valero Texas City Refinery was the first to earn recognition in OSHA’s Voluntary Protection Program, a stringent set of safety expectations embraced by many
in the industry. As of December 2009, 28 of 150 U.S. refineries had earned Star Site recognition. Ten belonged to Valero.
asked Valero for permission to be audited. Becoming
certified as a VPP “Star Site” would be rigorous and timeconsuming,
but the end result would be even greater
safety results. From this, a companywide effort was born.
The program represented a new way of communicating
and working together for the good of employees and
the community. “OSHA has gained a valuable partner
through Valero’s participation in VPP,” John Miles, OSHA
Regional Administrator, said in 2005. “Not only have
they successfully reduced injuries and illnesses at their
own facilities, they have worked to improve conditions at
numerous other sites through their support of the VPPPA’s
mentoring program and OSHA’s Special Government
Employee program.”
The Texas City Refinery proudly became Valero’s first
“Star Site” in 2001, followed the next year by the Krotz
Springs and Three Rivers refineries. The Houston Refinery
Valero Houston Refinery employees celebrate their recertification in the federal
VPP safety program in 2007.
was named a “Star Site” in 2003, and the Paulsboro and
Wilmington refineries were approved for the honor in
Safety & Environmental
38

2004. The Ardmore Refinery followed in 2005, as did
both the Corpus Christi plants. The Benicia and St.
Charles refineries earned VPP status in 2006, followed by
the Corpus Christi Asphalt Plant and Valero Aviation in
2008. Also in 2008, an unprecedented team of auditors
and Valero officials extended an honorary VPP honor to
the Jean Gaulin Refinery in Quebec. While Canada did
not have a VPP program of its own, the refinery was
recognized for having safety standards that reflected
the VPP mission in America. Since that time, several
VPP re-certifications have been earned. As of December
2009, 28 out of 150 U.S. refineries had earned Star Site
recognition. Ten of these sites proudly belong to Valero.
Commitment to Excellence
Management System
In 2008, a program was launched to reinvigorate
employees on safety and reliability. The Commitment
to Excellence campaign offered guiding principles that
Valero would use to achieve excellence in business, its
industry and in relationships with employees and the
community. From that, the Commitment to Excellence
Management System (CTEMS) was born. In a video aired
companywide in September 2008, Bill Klesse and Rich
Marcogliese introduced the new program and explained
its purpose. “As North America’s largest refiner, Valero is
poised to become a world-class competitor in the global
energy business. But to fulfill this vision and generate
industry-leading returns on our investments, we must
pursue excellence in all aspects of our business,” Klesse
said. “In the end, operational excellence is what will set
us apart from our competitors and make us strong in
any business cycle. We have a tremendous opportunity
to continue to improve our operating performance as we
move toward achieving our long-term goals.”
Marcogliese emphasized CTEMS’ ability to establish a
more uniform and comprehensive approach to planning,
executing, checking and acting to improve Valero
employees’ work activities. “It is not a one-time program
with a definable end,” Marcogliese said. “It is the way
Valero will run its business, and fulfill its commitment to
operational excellence.”
Valero’s Corporate Fire School is an annual event to hone emergency response skills and strengthen teamwork between refinery first responders. In an industry of heat,
steel and pressure, safety is critical to the health of Valero employees and the future of the company.
39 Valero Lines 3oth anniversary edition

In its lifetime, Valero has invested $19.5 billion to improve its refineries. Since
1997, Valero has spent $5.4 billion on regulatory and environmental compliance.
The safety mission continues today. Since 2004, Valero’s
refining system’s total recordable incident rate (TRIR)
average of 0.89 per 200,000 working hours has beaten
industry averages.
Environmental excellence is not only
good ethics, it’s also good business.
——
1996 Valero Summary Annual Report
In the early 1980s, Valero recognized that a worldwide
movement toward cleaner fuels was on the horizon.
Long before most refineries sensed the move toward
reformulated gasoline and emissions controls, the
company was busy developing a strategy to meet
those new demands. As the company has grown, it has
remained at the forefront of this clean-fuels movement.
Twenty-eight years after purchasing the property, Valero’s
largest and most visible commitment to environmental
stewardship is its Corpus Christi Refinery complex,
renamed the Bill Greehey Refinery in 2006. Valero invested
$535 million to construct a refinery that would take the
lowest-grade feedstocks and turn them into premium,
clean-burning fuels. The upgrade was no easy task, but
by its completion in 1984, the refinery aptly produced a
full slate of unleaded gasoline – years before it became
a federal requirement to produce 100 percent unleaded
fuel.
The Clean Air Act of 1990 – at the time, the most allencompassing
piece of legislation in U.S. history – became
law with the hope of improving the nation’s air quality
by tightening fuel specifications. The act mandated the
use of cleaner-burning, “reformulated” gasoline (RFG) in
the nation’s most polluted cities by 1995. But RFG had a
higher oxygen content, which required dramatic changes
to refining processes at significant costs to refiners.
Because of its investments during the previous decade,
however, Valero already was a leader in providing cleanerburning
fuels, both in the U.S. and internationally. In
February 1992, the company dedicated its $290 million
Hydrocracker and Naphtha Reformer units at the Corpus
Christi facility. More than 120 energy industry officials,
dignitaries and media attended, taking tours of the plant
and learning more about the project’s environmental
importance. These units increased the company’s
production of gasoline and gasoline-related products
from 70 percent to 85 percent of total throughput. Years
later, Valero would become the first refiner outside the
state of California to produce and supply California Air
Resources Board (CARB) gasoline, a blend of gasoline
that meets California’s stringent clean fuels standards.
In the mid-1990s, Valero voluntarily added $40 million
in additional environmental initiatives. A marine vapor
recovery unit was added to capture vapors as gasoline
was loaded onto ships and recycle them back into the
refining process, equating to millions of gallons per
year. A Belco scrubber was built to significantly reduce
emissions – more than 40 percent below EPA standards –
and became a staple at many of Valero’s refineries today.
Such voluntary initiatives helped earn Valero the highest
environmental award in Texas, the 1995 Governor’s
Award for Environmental Excellence, presented by then-
Texas Governor George W. Bush.
The Houston and Texas City refineries acquired by Valero
in the Basis acquisition in 1997 were both “grandfathered”
with regard to state environmental permitting laws.
Valero, however, committed to dramatically reducing
emissions from the plants anyway, by installing $60
million in emission-control technology. The upgrades
promised to reduce emissions from the two facilities
Safety & Environmental
40

In 2008, the Valero St. Charles refinery earned a statewide recognition for environmental excellence. Refinery initiatives including a pollution-prevention program, a
computer recycling project and an environmental management system were recognized in April 2008 as part of the state’s Environmental Leadership Program.
by approximately 40 percent. Nine other companies
eventually followed Valero’s lead, but then-Governor Bush,
impressed with Valero’s leadership and commitment,
used the Valero Houston Refinery as a backdrop for a
press conference to announce the voluntary program.
“These 10 companies, working with state environmental
leaders, are taking responsibility for cleaner air,” Bush
said at the press conference. “By voluntarily receiving
state air permits for their older facilities and installing
modern emissions control technology, these companies
will reduce air pollution by an estimated 10,000 tons
a year.” Environmental initiatives at the refineries also
helped the Valero Houston and Texas City plants join the
Bill Greehey refinery in the Texas Clean Industries 2000
program that called for industrial plants to reduce their
emissions by 50 percent between 1995 and 2000.
In the summer of 2003, Valero acquired not only its
St. Charles Refinery but also a host of environmental
ailments at the plant. The refinery had not been wellmaintained
and was plagued by problems. Addressing
safety and the environment first, Valero dramatically
improved the plant’s ecological profile – so dramatic, in
fact, that the refinery earned Valero’s first “Chairman’s
Award for Environmental Excellence” in February 2005.
The inaugural award was and continues to be given to the
refinery with the best overall environmental performance.
Valero continued to contribute to clean energy with the
completed construction of a 50-megawatt wind farm near
its McKee Refinery in the Texas Panhandle. In total, 33 GE
wind turbines operate just outside the refinery and supply
energy to the plant. Construction of the first six turbines
began in mid-October 2008, and took approximately
two months to complete. Sales to a local utility began
shortly thereafter. Since the wind farm replaced electricity
generated from fossil fuels, it instantly helped reduce
Valero’s carbon footprint – a primary objective of the
project. “Initiatives like our wind farm help to make us
an industry leader in environmental stewardship,” said
Kirk Saffell, Vice President of Environment and Safety.
The open land around the McKee Refinery made it ideal
for construction of the 250-foot wind turbines, with
prevailing winds capable of providing a steady supply of
electricity.
Today, the company has a full department dedicated to
Alternative Fuels. And the acquisition of nine ethanol
plants, with one acquisition pending in 2010, has opened
new ventures for the company in clean-fuel technology.
41 Valero Lines 3oth anniversary edition

Valero Bill Greehey Refinery
In its leadership, however, Valero also has been thrust
into the political debate over carbon emissions in 2009.
Proposed legislation to saddle refiners with the lion’s share
of emissions charges prompted sharp rebuke from Valero
and from its CEO. In his testimony before a contentious
Congressional committee in October 2009, Klesse urged
U.S. policymakers to consider the devastating effects of
proposed cap-and-trade legislation – particularly job losses
in the refining industry – if the measure passed.
Speaking on behalf of
Valero and the National
Petrochemical and Refiners
Association (NPRA), which he chaired, Klesse warned
members of the Environment and Public Works Committee
that the proposed “Clean Energy Jobs and American Power
Act” would have a staggering impact on the refining and
petrochemical industry. “Plainly said, this legislation tosses
away our nation’s competitive advantage, further damages
our economy, destroys jobs and threatens our national
security,” Klesse said. At press time, the legislation had not
passed the Senate and will be revisited at a later date.
In its lifetime, Valero has invested $19.5 billion to
improve its refineries. Since 1997, the company has spent
$5.4 billion on regulatory and environmental compliance
work. And with more regulations and fuel specifications on
the horizon, Valero expects to spend another $1.4 billion
over the next several years. “Our company continues to be
a contributor to society,” Klesse said. “We will continue
to honor the commitments we have made to all of our
stakeholders.”
The safety of our employees,
our operations and our communities
is our highest priority.
——
Valero Social Responsibility Report, 2009
Safety & Environmental
42

Turbines turn in the glow of a Sunray, Texas sunset. The Valero McKee
Refinery is home to a 33-turbine wind farm that supplies electricity to the
refinery and its neighbors.

1980
Valero Energy Corporation is a rapidly growing energy company with approximately
978 employees, annual revenues in excess of $1.7 million and assets that will reach
$1 billion in 1981. Valero is strongly based in the natural gas transmission and
processing industries. It is expanding into key energy-related activities, including
gas liquids extraction and transportation, refining, oil field and industrial supplies,
exploration and production, natural gas storage and fuel oil transportation.
2010
Valero Energy Corporation is a Fortune 500 company based in San Antonio with
approximately 21,000 employees. The company owns or operates 15 refineries with a
combined throughput capacity of approximately 2.8 million barrels per day. Valero is
also a leading ethanol producer with nine ethanol plants in the Midwest with a combined
capacity of 1 billion gallons per year, and is one of the nation’s largest retail operators
with approximately 5,800 retail and branded wholesale outlets in the United States,
Canada and the Caribbean under the Valero, Diamond Shamrock, Shamrock, Ultramar,
and Beacon brands. Please visit www.valero.com for more information.

Valero
Family Album

Valero Headquarters
Acquired from Ultramar Diamond Shamrock in December 2001, Valero Energy Corporation’s current home at One Valero Way
sits in a wooded area of northwest San Antonio. The 148-acre, renovated Valero campus includes two new office buildings, a
remodeled main building and expanded parking facilities. The 700,000 square foot complex features an exterior made of Texas
limestone.
Valero’s first home was located in downtown San Antonio. By August 1979, Valero Tower One was occupied and a second tower
had begun construction. The buildings were sold to PG&E as part of a spin-merger in 1997. In October 1997, Valero broke ground
on a new site, One Valero Place, and reached capacity by the time it was finished in December 1998. A second building, Two Valero
Place, was completed in March 2000. The buildings were sold to San Antonio Water System (SAWS) in 2001 for $30 million.
A third and final move to Valero’s current headquarters was one of the biggest in company history, taking a year to complete.
46

Amarillo crediT center
Joined Valero in 2001
The Amarillo Credit Card Center, acquired and grown as part of Valero’s purchase of Ultramar Diamond Shamrock in 2001, has
demonstrated a personal commitment to customer care for more than 60 years. Since its first days of operation, the center has
been a highly efficient facility, providing customers with the best service in the industry. The center has 137 employees who are
committed to their customers and their community. Throughout the year, employees organize events and volunteer for various
charities such as Habitat for Humanity, Amarillo Food Bank, local mentoring programs and many more. In times of disaster, the
Credit Card Center works with customers to protect their credit and help meet all of their financial obligations.
47

Ardmore Refinery
Joined Valero in 2001
Throughput capacity: 90,000 barrels per day
Constructed in 1913, the Valero Ardmore Refinery sits on 722 acres outside the city of Ardmore, Okla. The plant has undergone
numerous upgrades since its purchase by Valero in 2001 as part of the Ultramar Diamond Shamrock acquisition. The refinery has
been modernized to process heavier, sour crudes while maintaining a high product yield. These critical upgrades have established
the refinery as a leader in the production of clean-burning fuels, particularly in Oklahoma. In addition to production and processing,
the refinery also has more than 2.4 million barrels of refined product storage. The refinery is VPP Star Site certified for safety.
48

Aruba Refinery
Joined Valero in 2004
Joined Valero in 2004
Throughput capacity: 235,000 275,000 barrels per day
Text Commissioned Here in 1929 by Standard Oil, the Aruba Refinery was purchased by Valero in 2004 from El Paso Energy. The facility
has undergone significant upgrades since it was re-commissioned in the early 1990s. The refinery processes lower-cost, heavy sour
crude oil and produces a high yield of finished distillate products and valuable intermediate feedstocks that can be marketed in
the U.S. Gulf Coast, Florida, the New York Harbor, the Caribbean, South America and Europe. The refinery has excellent logistics,
including two deepwater marine docks with capacity for ultra-large crude carriers, six docks for refined products and a truck rack
for local sales.
49

Benicia Refinery
Joined Valero in 2000
Throughput capacity: 170,000 barrels per day
The Benicia Refinery was purchased by Valero in 2000 from ExxonMobil. Built as a grassroots project in 1968, this plant is now
one of the most complex refineries in the United States. It sits on 800 acres along the Carquinez Strait, a tributary of San Francisco
Bay. Approximately 70 percent of the refinery’s product slate is CARB gasoline, California’s clean-burning fuel. The refinery also
has significant asphalt production capabilities and produces 25 percent of the asphalt supply in northern California. The plant is
VPP Star Site certified for safety.
50

Bill Greehey Refinery
Joined Valero in 1981/2001
Throughput capacity: 315,000 barrels per day
Valero acquired an interest in 1981 from Saber Energy, and fully commissioned the site in 1983. Referred to as the Corpus Christi
West Plant, the facility is Valero’s first and longest-owned refinery. It is considered one of the most complex refineries in the world,
specializing in the production of environmentally clean fuels and products, primarily RFG and ultra-low-sulfur diesel. In 2001,
Valero acquired a neighboring facility in Corpus Christi from Coastal Oil, adding another 115,000 BPD of capacity to its operation.
Commonly known as the Corpus Christi East Plant, this facility processes heavy, high-sulfur crude oil into light products, asphalt
and petroleum coke. Combined, the East and West plants sit on 523 acres along the Corpus Christi Ship Channel. They are both
VPP Star Site certified for safety. In 2005, Corpus Christi complex was renamed the Bill Greehey Refinery, in honor of Valero’s first
chairman and CEO.
51

Delaware City Refinery
Joined Valero in 2005
Throughput capacity: 140,000 barrels per day.
The Valero Delaware City Refinery was commissioned in 1956 with a throughput capacity of 140,000 barrels per day (BPD). The
refinery has undergone several revamps and expansion projects to increase the total capacity to 210,000 BPD. In the fall of 2009,
Valero announced the permanent closure of the Delaware City Refinery following significant economic shortfalls and a steep
downturn in the refining market. At the time of publication, this facility continued to be in transition.
52

Houston Refinery
Joined Valero in 1997
Throughput capacity: 145,000 barrels per day
Commissioned in 1942, the Houston Refinery has undergone numerous expansions to process a wide range of petroleum products.
Valero acquired the refinery in 1997 with the purchase of three Basis Petroleum assets from Salomon Inc. The refinery is located
on the Houston Ship Channel, with deepwater access for off-loading feedstocks. The refinery is a mid-sized plant that sits on
approximately 250 acres inside the city limits of Houston.
53

Jean Gaulin Refinery
Joined Valero in 1998
Throughput capacity: 215,000 barrels per day
Commissioned to produce heavy oil and middle distillates as the largest volume products, the original refinery outside Quebec
City was brought on line in October 1971. Several major upgrades were implemented in 1980 through 1983, and the refinery was
further expanded beyond the year 2000 with a new crude unit, catalytic reformer unit, gasoline desulfurization unit (GDU) and
distillate desulfurization unit. The state-of-the-art facility sits on 370 acres on the south shore of the St. Lawrence River, with
the ability to receive large, single cargoes up to 1 million barrels — a significant advantage over other refineries. The Quebec City
Refinery was purchased from Ultramar Diamond Shamrock in 2001 and renamed the Jean Gaulin Refinery in 2002 to honor the
former UDS chairman and CEO, Jean Gaulin.
54

McKee Refinery
Joined Valero in 2001
Throughput capacity: 170,000 barrels per day
Situated on 5,000 acres in the heart of the Texas Panhandle, the Valero McKee Refinery has access to crude oil from northern
Texas, Oklahoma, southwestern Kansas and eastern Colorado through an extensive network of crude oil pipelines, making it one
of the most well-connected plants in Valero’s system. The refinery began operations in 1933, and was purchased as part of Valero’s
acquisition of Ultramar Diamond Shamrock in 2001. Recent upgrades allow Tier II gasoline and diesel production. The refinery is
located in Sunray, Texas, approximately 45 miles north of Amarillo.
55

Memphis Refinery
Joined Valero in 2005
Throughput capacity: 195,000 barrels per day
Originally constructed in 1941, the Valero Memphis Refinery was purchased in 2005 as one of four assets acquired from Premcor,
Inc. Since that time, Valero has invested more than $245 million upgrading the 250-acre site to create a modern and highly efficient
facility. Crude oil is supplied to the refinery through the Capline Pipeline and can also be transported, along with other feedstocks,
by barge. Products primarily are distributed via truck-loading racks at three product terminals, barges, and a pipeline directly to
the Memphis airport. The Valero Memphis Refinery is the sole fuel supplier to FedEx.
56

Paulsboro Refinery
Joined Valero in 1998
Throughput capacity: 195,000 barrels per day
The Valero Paulsboro Refinery dates back to 1917, although no significant structures or equipment remain from that era. Almost
all operating process equipment was installed after World War II and originally was designed to manufacture quality lubricants.
The refinery later expanded to include gasoline production to meet the nation’s energy needs. During the 1970s and 1980s, the
refinery completed grassroots construction on four new process units. Eleven other units were modernized and improved, bringing
the refinery to its current throughput capacity. Valero purchased the 950-acre site in southern New Jersey from Mobil Corporation
in 1998, giving Valero valuable access to markets in the Northeast and an expanded national presence. The plant is VPP Star Site
certified for safety.
57

Port Arthur Refinery
Joined Valero in 2005
Throughput capacity: 310,000 barrels per day
Commissioned in 1901, the Valero Port Arthur Refinery was purchased from Premcor, Inc. in 2005 and stands as the oldest site in
the Valero system. It sits strategically on 4,000 acres on the Port Arthur Ship Channel, approximately 90 miles east of Houston.
The site has the ability to process 100 percent sour crude oil, 80 percent of which can be heavy sour crude. Major investments
have strengthened its competitive edge, with coker, crude and vacuum unit expansions and a state-of-the-art hydrocracker. The
refinery’s location accommodates its extensive logistics system, which includes access to Gulf Coast water-borne crude oil via the
refinery docks or through the Nederland, Texas, terminals of Sun or Oil Tanking.
58

St. Charles Refinery
Joined Valero in 2003
Throughput capacity: 250,000 barrels per day
Located on approximately 1,000 acres, about 15 miles upstream from New Orleans, the Valero St. Charles Refinery is one of the
newest refineries in the United States. Its major process units were built in the early 1980s or later. Since acquiring the refinery from
Orion Refining Corporation in 2003, Valero has invested more than $1 billion, making the plant also one of the company’s more
complex refineries. The St. Charles facility adds value to the company’s operations by providing intermediate feedstocks to other
Valero refineries located along the Gulf Coast. The plant is VPP Star Site certified for safety.
59

Texas City Refinery
Joined Valero in 1997
Throughput capacity: 245,000 barrels per day
Purchased Text Here in 1997 as part of the Basis acquisition, the Texas City Refinery dates back to 1908 and was originally built to process
1,500 barrels per day (BPD) of Oklahoma crude oil. The refinery has gone through continuous upgrades and expansions since then.
Valero has invested more than $750 million in expansions and upgrades at the plant, most recently completing a new delayed coker
unit and gasoline desulfurization unit. The new units allow the crude units to run lower-value, heavier-gravity crude feedstocks to
produce a large slate of low-sulfur, clean fuels. Valero Texas City is located on 290 acres along the Texas City Ship Channel, and
is connected to the Valero Houston Refinery by pipeline. It is the first Valero refinery to earn VPP Star Site safety status (2002),
including recertifications in 2005 and 2008.
60

Three Rivers Refinery
Joined Valero in 2001
Throughput capacity: 100,000 barrels per day
Located halfway between San Antonio and Corpus Christi, Texas, the Valero Three Rivers Refinery, began operations in 1974 with
the commissioning of a crude unit and has had several major expansions and upgrades since then. The refinery is located on about
400 acres inside the town of Three Rivers, Texas, and is connected by pipeline to the Valero Corpus Christi Refinery complex.
Valero acquired the site in 2001 as part of its purchase of six refineries from Ultramar Diamond Shamrock. The refinery holds a
VPP Star Site safety certification and is the recipient of Valero’s Chairman’s Safety Award (2002, 2006, 2008) and the Chairman’s
Environmental Award (2007).
61

Wilmington Refinery
Joined Valero in 2001
Throughput capacity: 135,000 barrels per day
The Valero Wilmington Refinery was commissioned in 1969 and has undergone three major expansions to become a fully integrated
refinery. It also has completed several upgrades to meet clean-fuel standards. Acquired from Ultramar Diamond Shamrock in
2001, the Valero Wilmington Refinery processes a blend of California and foreign crude oil, as well as unfinished feedstocks from
local and foreign sources. The refinery also produces 15 percent of the asphalt supply in southern California. It is VPP Star Site
certified for safety and sits on a compact 120-acre site near Los Angeles.
62

Valero Logistics Operations
Valero’s expertise in logistics and terminal management can be traced back to 1980, when Valero Energy began as a natural
gas transportation company and Texas’ largest intrastate pipeline operator. Since then, the division has evolved through several
acquisitions to become the hub for all of Valero’s midstream assets. The present-day Valero Logistics Operations officially formed
in 2005 with the acquisition of Premcor Inc., and the subsequent divestiture of Valero L.P. The division today includes 354 miles of
crude product pipelines, 11 storage facilities, seven truck racks, 160 miles of crude gathering pipelines and four asphalt plants, as
well as the corporate-wide management of all non-Retail related real estate.
63

Valero Renewables
Joined Valero in 2009
Ethanol Throughput capacity: 3.1 million gallons per day (10 plants)
In 2009, Valero acquired 10 world-scale ethanol plants and one development site from VeraSun Energy and Renew Energy LLC,
becoming the first traditional refiner to enter production of ethanol. Valero Renewable Fuels consists of plants in Albert City, Iowa;
Albion, Neb.; Aurora, S.D.; Bloomingburg, Ohio; Charles City, Iowa; Fort Dodge, Iowa; Hartley, Iowa; Linden, Ind.; and Welcome,
Minn. A site under development is located in Reynolds, Ind., and one more site (located in Jefferson, Wis.) is expected to be
acquired in early 2010. The operations have created a new department within Valero – Alternative Fuels – and continue to pave the
way for new opportunities in the biofuels market.
64

Valero Retail
Joined Valero in 2000
The purchase of the Benicia Refinery in 2000 added a new pillar to Valero’s refining platform — Retail. Specifically, 80 companyowned
stores and a 270-store distribution chain. From there, Valero’s retail venture exploded in 2001 with its acquisition of
Ultramar Diamond Shamrock. Approximately 5,000 retail outlets in the U.S. and Canada were added to the fold and prompted
an international rebranding effort in 2005. Today, the company owns nearly 1,000 Valero Corner Stores, and manages a branded
wholesale network of about 4,800 outlets in the U.S., Canada and the Caribbean under the Valero, Diamond Shamrock, Shamrock,
Ultramar and Beacon brands.
65

CO M M E M
Thirty years after Valero began, the company has amassed
Thirty years after Valero began, the company has amassed a
Their expertise Their and expertise dedication and has dedication only made has V
Valero means so much more than just the place where I work. It is the place
that employs the people I love and who have become my family.
——
Maria Alvarado, 32 years
I have been blessed to work with wonderful group of colleagues and business
associates over the years, and I remember the positive motto, “Tough Times Never
Last, but Tough People Do.” I’ve had a rewarding Valero career, and I enjoy work
because of the co-workers and customers I collaborate with on a daily basis.
——
Laura Carreon, 30 years
Today, everyone knows Valero, and we’re admired everywhere we do business.
That is in stark contrast to the early years – what transpired from then to now took
a total team effort, from the top of the organization all the way down. It was a major
transformation, and we can all be proud. Congratulations on 30 great years!
——
Bruce Flieller, 30 years
After being at Valero for 30 years, all I can say is that I have been very blessed.
I started with a company that made each employee feel they were a big part of its
success. Even though we worked long hours, you couldn’t tell because we worked so
closely together, like a family. I couldn’t have worked for a better company being
surrounded by wonderful people.
——
Lucy Hernandez, 30 years
Valero is an extraordinary place, made up of “ordinary people doing
extraordinary things.” It is no wonder Valero has thrived over the years, with the
hard work and dedication of its many employees. I consider myself truly privileged
to be a member of the Valero family. HAPPY ANNIVERSARY!
——
Cindy Holley, 30 years
Thirty years, what a milestone! Leaving Houston as LoVaca Gathering
Company … arriving in San Antonio, newly named Valero! One word made the
trip – pride. It comes to mind every time I think of Valero. From attaining the
honor of one of the “100 Best Companies to Work For” to our unparalleled
volunteer presence … PRIDE. Congratulations, Valero.
——
Laura Lange, 30 years

O R A T I O N S
a family of employees from virtually every corner of the energy business.
family of employees from virtually every corner of the energy business.
Valero only made better. Valero Thank better. you for Thank your service. you for your service.
When I was hired by LoVaca Gathering Company in 1976, I remember there
were days when we did not know if we were going to have a job the next day.
Somehow, Bill Greehey was able to pull a small gas transmission company from
near-bankruptcy and created the largest refinery company in North America.
Valero’s culture created this great company.
——
Sammy Nieto, 33 years
I have worked for Valero and its predecessor my entire 32.5 year career.
Valero’s resilience, perseverance and desire to be the best as well as the most
generous to the less fortunate will ensure the future of the company which I plan on
being a part of the rest of my career.
——
Felix Sekula, 32 years
I have been with Valero for over 32 years and have been blessed to be able to
enjoy the great times, the good times, and the not-so-good times. I can say without
a doubt that in all of my years with this company, I have absolutely no regrets for
joining this great organization. In fact, the only regret I would have is if I did not
become part of the Family.
——
Dan Stanush, 32 years
When someone has worked in one place for more than 30 years, one might
assume that person doesn’t like change in their lives. In my case, you would be
wrong. My career has provided all of the change I have ever needed in my life. It has
been a wild ride, but I would not have missed it for the world.
——
Bob Wheeler, 32 years
I have truly enjoyed my 38 years working with such dedicated, hard-working and
giving people. And what a ride! I witnessed a troubled natural gas division become
the largest refiner in North America!
——
Emil Wiatrek, 38 years

exCEllenCE REfinED
30 Years of Service… And Counting
49 Years
Kenneth Young
Frederick Hill
46 Years
Don Scogin
45 Years
Dave Phillips
44 Years
James Timbs
James Howell
Jerry Reyes
David Champagne
Don Williams
Kenneth Romero
43 Years
Twiggy Ford
Jose Collazo
Marsha Wilson
42 Years
Raymond Latham
Eva Lara
Johnny Brumley
Clarence Wykoff
Jerome Hickl
Tom Downing
Glenn Hodge
Darby Guillory
Roger Felton
Carl Patten
Renn Taylor
Sheldon Boullion
Robert Nixon
Richard Cross
Marian Elliott
George Papillion
41 Years
Bill Klesse
Earline Ballou
Robert Trahan
Charles Hamilton
Darrel Champagne
Ronnie Wilkerson
John McKnight
Juan Martinez
Woodrow Guy
Ray Elfstrom
Calvin Whitehorn
Nolan Davis
Curtis Fawvor
Doug LeGros
Thomas Rutledge
Jack Giordano
Hector Molina
John Aycock
Larry Richard
Rufus Williams
James Viltz
JD Wheeler
Calvin Miles
PC Gary
Gary Beckman
Garland Roddy
Carlo Palumbo
Ronald Terry
Cowboy Cardenas
Herman Varela
Don Mannino
Billy Sanders
Willie Lewis
Joseph Jones
Joe Tobin
Jasper Atkinson
Donnie Guerra
40 Years
Bobby Bruce
Octaive Glass
Alfredo Rodriguez
Cliff Snodgrass
Mark Kavanaugh
James Robinson
Glen Tryer
Oscar Gonzales
John Hart
David Estrada
J R Delarosa
Curtis Hearnsberger
Richard Montez
Allen Dusek
Earl Dickerson
Frank Young
Richard Minter
Bruce Byers
Ruelle Parker
Luis Aguilar
Darrel McNiel
Mike Blacksher
Allen Daigle
Artie Godfrey
Paul Hitt
Lonnie Hammock
Julian Sanchez
Terry Landgraf
Carl Vinson
Anthony Jones
Steve Broaddus
Janie Vaquera
39 Years
Spencer Comeaux
Richard Wolford
Lofton Robison
Homer Crawford
Robert Havens
Houston Pouncy
Daniel Timms
Marty Lovelace
Margaret Ruggles
Ken Brown
Freddie Quillen
Eddie Hubert
Ben Sam
Jean Hanes
John Locke
Mike White
Charlie Wells
Arthur Richardson
Jessie Castro
Melvin Keller
Hamp Hampton
Emil Wiatrek
Joseph Mastracchio
Clarke Dubose
Buddy Sepeda
Ricky Stone
Mike Travis
Gary Byrd
Bill Deadmon
Alfred Gonzales
Salvatore Pino
Jesus Castillo
David Weidner
Jon Allen
Ronn Mason
Keith Guidry
Winston Pitre
Lewis Petracci
Wayne Villanova
Phil Boyd
Bob Barlow
Thomas Chapman
Brett Monroe
Bernard Ryan
38 Years
Joe Medrano
Jimmy Nicklebur
Elton Hayes
Russell Marino
Debra Williams
Melvin Goodman
Frank Dean
Lovelace Williams
Rodney Winter
George Randolph
Lloyd Carlie
Bill Quinn
Thomas McCaffrey
Roy Garcia
Samuel Carrow
Joseph Clegg
Michael Duke
Jim Peacock
Frank Richards
Anthony Dobrowolski
Morris Carter
37 Years
Max Stacy
Juan Rivera
Darby Reid
Billy Cook
James Perdue
Thomas Chas
Pat Kennedy
Edward Majewski
Stephen Briscoe
David Hanson
Lidia Rojas
Willie Griggie
Don Turano
John Pyka
Pat Vitone
Mario Guasco
Ken Lavecchia
Danny Pinkley
Jerry Price
Robert Ruiz
John Buchanan
Santiago Saenz
James Marx
Andy Myrick
Dennis Voelker
James Griscom
Jim Sullivan
Jim Stokes
Louis DiGiambattista
Joe Esquivel
David Park
Richard Nicely
Belita Allen
John Rogers
Lee Getsinger
Ronnie Lasalle
Edward Murphy
William Lindle
Roger Driver
Lloyd Lopez
Darrel Odland
Steve Palacky
James Wilson
James Burt
Linda Hatton
Ron Szopinski
RE Howard
Barney Beesley
David Butler
Steve Peveto
Ricky Robbins
Stephen Jennings
Ruben Daniels
36 Years
James Dorsey
David Stewart
Bob Richards
Merrill Lankford
Danny Brannan
William Elliott
Arlen Marion
George Cortez
Ronald Stewart
Bill Anderson
Charles Meeks
Yndalecio Zepeda
Loretta Chandler
Regino Trejo
William Smith
Brenda Deremer
James Bowe
Dale Simmons
Robert Cupit
Don Solis
Mike Trahan
David Bryant
Bob Gordon
Joe Sosa
Keith Monroe
Bob Appling
Tony Bramblett
James Truxon
Frank Brigante
Greg Hahn
Steve Heron
Marvin Powell
Robert Hollis
Gordon Jiles
Jim Bottomley
Glenn Stokes
Thomas Cresong
Jay Du Bois
Danny Elrod
Stanley Manel
Rich Marcogliese
Barbara Phillips
Keith Sonnier
Robert Olsen
Montie Kiefer
Robert Armstrong
Harvey Kenyon
Leroy Anderson
Fred Newhouse
James Berger
Bill Weiserth
Jimmy Davis
John Spellman
Roy Poche
Tommy Saulter
Eddy Thibodeaux
Hardner Williams
Henry Yowman
Robert Benoit
John Williams
Joe Clayton
Bob Kuenstler
Ronnie Washburn
John Emley
Eddie Dean
David Barker
Larry Loomis
Dale Portie
Joe Zapotoschny
William Merget
Bill Stott
Allyn Weber
David Gaudet
Lynn Tait
68

Walter Isom
RB Davis
Terry Lavergne
Mike Weber
James Cox
JJ Jeanmard
Mark Martinez
Brant Slaughter
Ray Flores
Charles Neel
Tony Trinidad
George Anderson
Frederick Brander
John Kier
Ray Guidry
Kenny Cram
Allen Ng
Gerald Morin
Bob Peugh
Cynthia Drake
Carlos Sosa
Charles Sterling
Jasper Anniboli
Keith Pousson
Clifton West
Herman Wells
Kris Hernbloom
35 Years
Andy Moreno
Tom King
Bob O’Neal
Gerald Record
Diana Perez
Steven Pentz
Jeff Rapach
Rebecca Busic
Kenn Higdon
John Brice
Harry Eubank
Ronald Burns
Harold Lee
Stephen Piron
Steven Hicks
Chuck Wueller
Roy Mitchell
Albert Fumuso
Anna Lebouef
David Poole
Lanis Sheffield
Steve Higgs
James Simpson
James Forse
Chuck Mirabella
Sheila Piletere
Marcia Ramsey
C A Jones
Doug Anderson
Mark Godley
David Kimball
Max Morell
Jimmy Thomson
Bobby Pickney
Janice Foret
Billy Best
Bruce Fontenot
Henry Jones
James Cluelow
Ronald Morris
Cindy Gidden
Dwain Kaufman
Tony Gonzales
Kermit McElwee
Otis Fisher
Steve Floyd
Pat Preston
Marc Schomerus
Tony Lawrence
James Dean
Don Burns
Bruce McPherson
Jim Bledsoe
Stan Norman
Tiodulo Rodriguez
Robert Stansbury
Buster Myers
Tommy Tade
Frank Escamilla
Steve Treece
Robert Wilson
Kent Miguez
Richard Savoy
Larry Garrison
Gary Savell
David Tindel
Milby Chauvin
Patrick Miller
Charles Green
Robert Hanks
Nathan Amerson
Edward Thibodeaux
Ben Eaglin
Vincent Fontenot
Kenneth Stubbs
Louis Lincoln
Johnny Maldonado
Mario Minucci
Gary Chasak
Dennis Delcambre
Robert Keller
Glenn Wiltz
Dennis Hahn
Andrew Arredondo
Ernest McLeod
Richard Zapf
Genaro Tamez
Bill Weber
Bob Allen
Donnie Guidry
Mud Williams
Rosemary Smith
Tommy Brown
Horace Boatner
Jack Miller
Tommy Babin
Cass Hebert
Thomas Barnthouse
Mark Griffin
Walter Bower
Clifford King
Manuel Rios
Cynthia Studley
34 Years
Brent Garvin
Jimmy Bulls
Steve Clegg
Willie Young
Chris Swift
Don Wood
Jesse Harville
Scott Crawford
Mike Ariza
Kevin Thacker
John Watson
Ron McInturff
Alan Finney
Danny Crout
Ricky Davidson
Mark Flurry
Phil Helmke
Horace Meche
Anthony Busceme
Steve Richards
Darlene Sudler
John Saenz
Roger Stewart
Larry Lewis
Brian Skillern
Tod Richman
Jerry Young
William Ginipro
Robert Trotman
Harry Layton
Carrol Price
Bill Kinsky
Joey Lipsett
Ronald Murphy
Paul Siddall
Rene Borrego
Joe Perryman
Jimmy Henry
Fred Price
Bruce Hoelscher
William McElyea
Apolonio Zuniga
Jon Stoffer
Randy Mellinger
Sandy Huff
Mary Wisniewski
Bobby Perkins
Charlie Archibeque
George Rogers
Larry Ganter
Richard Rodriguez
Ronnie Allen
Mary Wycoff
Marie Haden
James McQuary
Michael Clarke
Al Dominic
Terry Godwin
Joe Guidry
David Hebert
Randy Vincent
Tim Williams
Pat Young
Robert Ames
Ellis Thornburg
Larry Jones
Paul Clawson
Fred Ortega
Joseph Wincelowicz
Jim Dismukes
Steven Gibbs
Zachary Mann
Allan Thibodeaux
Doug Weeks
Jim Parker
Steve Howard
James Hughes
Sammy Nieto
W Graves
June Schmitz
John Acey
Steve Broussard
Dewayne Ritchey
Matthew Pino
Anthony De Frank
Richard Meyer
Arturo Lopez
Tim Hague
John Hoffman
John Sammons
Eddie Whitaker
Estella Jackson
Paul Jimenez
Ronnie Pitcher
Mark Prevost
Victor Suire
John Spolitback
Joe Galvan
Danny Potter
Robert Foster
Guy Duhon
Jeff Swearengin
33 Years
Steve Mulkey
Dale Trayler
Shawn Chisholm
Ricky Mitchell
Stephen Ammann
Mary Lou Gonzalez
William Blanchard
Jerry Morrison
Ellis Johnston
Charles Cerino
Gaylord Jones
Matt Anderson
Maria Alvarado
Jeff Billig
John Stens
Donald Byrd
Ricky Neely
Bobby Sterling
Willard Thompson
Bob Cloud
Steven Pozielli
Wayne Spears
Robert Erickson
Wayne Odom
Pat Jones
Danny Migues
Victor Stevison
Paul Watts
Alvie Brown
Sandra Edwards
Bren Bren Howard
Greig Theriot
Val Williams-Wiltz
Douglas Angelle
Mike Gouthier
Curtis Harrington
Robert Reynolds
Rick Smith
Terry Smith
John Farris
Bill Goff
Mike Procella
Leonard Ramoin
Warren Scoggins
Gary Jackson
Nat Byrom
Jerry Crenshaw
Benjie Simon
Neil Benjamin
Steve Evans
Kenny Robbins
Nancy Marx
Mike Auffurth
Terrell Ross
Sal Galvan
Tracy Mathews
Keith Mullins
Bruce Jennings
Mike Saldana
Richard De Vault
Cecil Baker
Rickie Collins
Rynwick Holland
Gevan Alford
Daniel Stanush
Kevin Huffstetler
Dennis Neeb
Carlos Martinez
Paul Trosper
Pete Salazar
David Villareal
Bill McKey
Debbie Carberry
Albert Gibson
Toby Miller
Charlie Soileau
Gregg Goebel
Anthony Commiato
Mark Skobel
Dane Williams
Ronald Gabriel
John Johnson
Denis Savoy
Phil Johnson
Arthur Cartrite
Bill Eakin
Bobby Garcia
Darian Howarth
Marty Larsson
William Buchanan
John Coleman
Thomas Magri
Frank Marucci
Thomas Weise
John Crochet
Ronnie Koziuk
Vincent Voivedich
Glen Merritt
Felix Sekula
Cynthia Beard
Robert Fite
Eddy Reed
Jimmy Wilson
Carol Bachman
James Scott
Jim Threadgill
Kent Trahan
Richie Williams
Michael Perrone
Calvin Philley
Lonnie Merks
George Hurst
David Madison
Steve Schneider
Leonardo Martinez
Simone Yuan-Newman
Lester Dickinson
David Jones
Robert Esquivel
Sid Ducote
Marvin Gray
Randy Lowe
Ed McCall
Dorothy Williams
Ginger Harris
Steven Peais
Nick Miskofsky
Bob Wheeler
Arturo Bazan
Donna Harris
Clyde Davis
69 Valero Lines 3oth anniversary edition

Jerry Odom
Alan Upchurch
Larry Waggoner
Jackie Epperson
Bobby Stewart
Steve Licciardello
Stephen Sagan
Bea Griego-Urias
James Burns
Jerome Martin
Curtis May
Tim Sebastian
Bart Taylor
Sookie Williams
Mike Corbishley
Billy Jarratt
Richard Gaytan
Lorraine Lynch
Gary Ward
Ken Goetz
Tony Dickens
Duane Donovan
Harley Davenport
Pamela Jordan
Sukhbir Lalli
32 Years
Rohnda Poteet
Stephen Blotzer
Joe Gracie
Larry Odom
Terry Spurlock
Jack Terry
David Thackrey
Rocky Howe
Roger Yeager
Donald Box
Billy Barksdale
Mike Salinas
David Leal
Garry Childs
Dennis Day
Danny Stinson
Sig Berlanga
Morgan Drake
JD Johnson
Jack Williams
Michael Giorgianni
Debbie Knox
Richard Day
Amadeo Garza
William Pratz
Red Curry
Tom Dimbleby
Quin Berry
John Knichel
David Wilson
Stevie Fountain
Ken Witten
Steve Guess
Melvin Brock
Ed Trahan
Larry Fowler
Mike Watkins
Marvin Burns
Barbara Klein
George Elizondo
Tim Ernst
Austin Fontenot
Perry Gray
Randy Prudhomme
Reynaldo Trevino
John Hitchcock
Larry Woods
Ralph Clark
Calvin Harrje
Steve Gage
Jim Keating
Freddy Mendez
Santo Licciardello
Frank Minniti
Robert Peiffer
Susan Barnes
Dan Graber
Rudy Elizondo
Henri McRae
Seth Sadler
Belinda Haecker
Jo Hilderbrand
Vick Pease
Robert Bryant
Mickey Landry
Yvonne Trahan
Jim Wooding
Steve Yeates
Zelly Zelsdorff
Glen Walters
John Valusek
Charles Watson
Doug Comeau
Karen Abendroth
Ron Scoggins
Stanley Lawrence
John Roach
Johnny Santana
Darrell Black
Esther Lamb
Jonathan Retzloff
Kenneth Durham
Micky Parisher
Terry Hughes
Michael Crice
Carlton Baugus
Gabriele Altmann
Debbie Cormier
Don Cuffel
Michael Spina
Carl Stricker
Russ Selkirk
Danny Walker
Fate Bennett
Tom Sullivan
Debbie Landers
Pamala Perkins
Geoffrey George
Nick Guerrero
Willie Thornton
John Vidrine
Larry Hardaway
Mary Birmingham
Edwin Busch
Carol Frank
Kirk Campbell
Donald Ford
Walter Shilo
Brian Thibodeaux
Ken Flotten
Michael Elvert
Sandy Bretzke
Debra Davis
Jim Ivey
Mark Blanton
Randy Jackson
Carl Spiegel
Eddie Phillips
Doyle Seymour
Jerry Kopcho
Ronny Boyd
Ken Iannelli
William Jameson
Albert Leonardi
Thomas Teitman
Brett Anderson
Lonnie Champagne
David Evans
Glenn Foreman
Dolan Jones
Cheryl Mann
Kurt Wolford
Stephen Jennings
Louis Pena
Tom Truitt
Jeffrey Davis
Kenneth Ham
Tony Jones
Barbara Johnson
Jaime Quintanilla
Cho Otero
Issa Konsul
Paul Cain
Ethel Cain
Cong Tavu
Gam Nguyen
31 Years
QT Freytag
Patrick Fujinaka
Ramon Ramirez
Mike Ramos
Andy Rodrigues
Glenn Royston
Nick Stubblefield
Boyd Tracy
Keith Lewis
Richard Ortegon
Jack Eisenmann
Dan Villanueva
Danny Hanson
Ginger Simpson
Jimmy Lambert
Karin Siegler
Mark Gilly
Stephen Cargill
Ikie Venable
Michael Goring
Cube Manuel
Malcolm Anderson
Junell Anderson
Wayne Enderle
Michael Allen
Jerry Bredehoeft
Donald Fowler
Joseph Rao
Mark Lemmon
Terry O’Conner
Michael Davis
Preston Boyd
Curtis Roberts
Sharon Kaltenbacher
Phillip Barnett
Dorothy Kowalik
Louis Morris
Steve Cockerham
Dave Colten
Tim McMillan
David Merrell
Imelda Santos
Mike Suire
John Tabor
Lester Westmoreland
Mondie Castro
Les Ingram
Joe Allen
Roger Durham
Chuck Elizondo
Bryan Gibson
Denise Otero
John Nichols
Gary Sipple
Paul Yeager
Robert Harding
Patrick Aiken
Ron Benefield
Gregory Fielder
Jerry Arcari
Steve Popp
Glenn Adkins
Mark Ellison
Stephen Hergert
Allan Bell
Benny Perriraz
Pamela Rogers
Rudy Guerra
Max Kazmiroski
Randall Rice
Kevin Golden
Scott Peterson
Homer Smith
Richard Allen
Van Howard
H. Catherall
Terry Holmes
Cora Pena
James Roberts
Patrick Torres
Gary Langley
Steve Grider
Steven DeRoche
Luther Flowers
David McKinley
Floyd Moses
Richard Quintanilla
Scott Newport
Howard Rusche
Charlie Whigham
Tommy Wright
Darryl Campbell
Donald Getsinger
David Orens
Kenneth Valdez
Deborah Lynch
Greg Temple
Jerry Cook
John Hornstra
Cecilia Toudouze
Harold Schweitzer
Earle McCants
George Spencer
Luis Benavides
Bruce Flieller
Chris Anderson
Kurt Dore
Jimmy Prescott
Daniel Watson
Jimmy Welch
Ramiro Tanguma
Craig Hilburn
M Moseley
Calvin Moss
Larry Twyford
Richard Push
Michael Frei
JoAnn Underkoffler
Randy Dickey
Robert Mitchell
Ricardo Rosas
Brian Miller
Tony Arena
Mike Miller
Carl Woodall
Richard Draper
Reymundo Garza
William Griffin
Edward Broomall
Jim Dunn
Monte Stapleton
Bubba Porter
Kent Aguillard
Leonard Casmore
Gilbert Olivarez
Sam Jackson
Lee Brakebill
Simeon Urenda
JR Martin
Mark Cranmer
Cindy Holley
Laura Lange
Laura Carreon
Jim Koehl
Dennis Collins
Kirk Conaway
Kenneth Gardy
Thomas Howell
Terry Kavanaugh
John Morency
Frank Ott
Larry Cane
Mark Decuir
Doris Jones
Robert Licatino
Jay Mendoza
Tony Montoya
Jeff Rinehart
John Vandiver
Drake Romero
Steven Milam
Roger Spenrath
Larry White
Bruce Huffman
Rick Osborne
Kirk Hewitt
Nathan Sampson
Louis Sbabo
Richard Vandernaald
Willie Freeze
Frank Gladu
Derrile Leblanc
Doris Thomas
Candy Alpan
Kim Broussard
Chris Bullion
Paul Collins
Lionel Ford
Mike Foster
Kendall Green
Richard Hancock
Danny King
Keith Lee
Ed Moton
Earnest Shields
Angeline Valsin
David Ivey
Clayton Kemp
Dennis Hokanson
John McLaughlin
Ronnie Hatter
Ricky Darbonne
Philip Berry
Stephen Hendricks
Dennis Minix
Ron Kooy
Douglas Foots
Sam Cavallo
Domenick Muraca
70

Michael Pantaleone
Johnny Mika
David Morton
Ruben Reyna
Butch Domangue
Jeffrey Seeger
Calvin Reyes
Eric Broussard
David Landrum
Mike York
Richard Herrera
Buster Schapper
Yogi Ybarra
Luz Hernandez
Edward Carl
Nino Garozzo
Lee Hasler
Timothy Owen
Dale Curtis
Luigi Segreto
Eugenia Rogers
30 Years
Sonny Menzel
Dan Rubio
Bill Schroll
Bill Sharp
David Wulfe
Craig Stanich
Jerry Bailey
Kelly Merrill
Betty Berger
Dan Ross
David Woodward
Manny Martinez
John Sauceda
Steve Wicke
David Gonzales
Paul Chavez
George Conde
Steven Payne
Isagani Paparro
Thomas Love
Joe Roznovsky
Arturo Flores
Mike Butler
Patsy Benchoff
Dave Larue
Sam DeGeorge
Vincent Gasparovic
Jeff Platt
Jackie Kiser
Keith Rutherford
Israel Cruz
Thomas Marks
Patrick Walls
Jimmy Antuna
Thomas Barca
Richard Dentino
Angel Pizarro
Yolanda DeVore
Peggy Cannefax
Theo Guidry
William Allen
Mark Mundine
Larry Walker
Bruce Luerson
Larry Smith
Keith Smith
Jeffery Ritz
Johnny Wright
Oscar Benavidez
Hilario Herrera
Randy Shields
George Alston
Dennis Cyr
Lee Stanley
William Hughes
Jodi Christiansen
Blake Middleton
Terry Speed
Raul Molina
Roy Rosas
Frances Boone
Roy Martin
Bill Bartleson
Nelse Geary
Douglass Hansen
Eric Little
Thomas Lucas
Greg Ratliff
Joseph Tierno
Larry Rojas
Debbie Ewald
Jim Kuhl
Kimberly Mazac
Rich Young
Ron Eaves
Shane Johanson
Gary Muniz
Steve Aune
Ruben Velasquez
Darrell Williams
Ashley Easterling
Joseph Sodomin
Michael Fischer
Patrick Dougherty
Gary Lively
Ellen Jourdan
James Arney
Bert Heer
Francis Mc Gee
Dominic Meduri
Charles Vasta
Dave Beck
Anita Mokienko
Gary Dillon
Roque Serna
Russell Dillon
Carl Bakley
Donna Gonzalez
Mark Griffin
Karl Hilton
James Jones
Robert Sterling
Marsha Bradley
Ronald Reagan
Rich Horbiak
Beverly King
Alan Pool
Rosemary Lee
Christine Trinidad
Darryl Beckett
Paul Evans
Kenneth Sanford
Maggie Perkins
Eric Olsen
Eddie Erickson
Joey Burnaman
Jack Chichester
Albert Ruiz
Wayne Little
Ray Garcia
Bubba Gordon
Jaco Jaco
Jack Mann
Phil Parmenter
William Spain
Rex Keister
Kenneth Fuller
Thomas O’Reilly
Johnny Bean
Race Copeland
Danny Callahan
Calvin Lindeburg
Darrell Dugas
Craig McBroom
Mitchell Powell
Gary Brooks
Robert Hall
Teresa Guzman
Nanette Baumgardner
Steven Mc Anally
Russ Schott
Kerry Koneman
Jose Vargas
Greg Jackson
Derrell Lackey
Thomas McKeehan
Kenneth Pearson
Kevin Williams
Terry Jansen
Patrick Copeland
Dennis Hatfield
Alfredo Pena
David Cleveland
Stephen Alvillar
Mark Calkins
Robert Van Druff
Robert Pena
Ralph Messick
Larry Huwe
Burt Tuttle
Victor Guevara
John Petrylak
Miguel Garcia
Roger Brittain
Dean Gilman
Larry Gutierrez
Kris Wannberg
Richard Hutson
Mike Olivares
David Runcie
Lushile Bruchmiller
Richard Fetters
Edwin Wyckoff
Larry Lenz
Steve Parker
Jerry Munson
Carl Short
Gloria Chavez
Maria Cramer
Maria Medina
Gary Arrant
Kebede Beyene

Valero McKee Refinery
VALERO ENERGY CORPORATION
Post Office Box 6960000 • San Antonio, Texas 78269-6000