Excellence Refined - 30 Years - Valero

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