Rank: 10 (Previous rank: 16)
Compare tool: Valero Energy vs. Top 10
CEO: William R. Klesse
Address: 1 Valero Way
San Antonio, TX 78249
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
What Readers Say
They speak out on Exxon Mobil and other 500 companies...