10. Valero Energy
 Get Quote: VLO
Financials: Latest Results
Rank: 10 (Previous rank: 16)
Compare tool: Valero Energy vs. Top 10 CEO: William R. Klesse Address: 1 Valero Way San Antonio, TX 78249 Phone: 210-345-2000 Website: www.valero.com Remember a couple years ago, when experts blamed high gasoline prices on the fact that the U.S. hadn't built a new oil refinery since 1976? Back then Valero was practically minting money, earning upwards of $20 for every barrel of gasoline it refined.
Well, by late last year, margins had cratered, and the new concern was whether a refining glut would force some plants to close. In the fourth quarter, Valero was forced to take a $4 billion writedown on refineries it bought during flusher times, and its revenues fell 35%. So don't be surprised if Valero's stay in the top 10 is a brief one. - J.B. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industry: Petroleum Refining
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