Renewable Diesel Buoys Valero Amid Rough 2024 for Refining

January 31, 2025--Researched by Industrial Info Resources (Sugar Land, Texas)--Valero Energy Corporation (NYSE:VLO) (San Antonio, Texas) faced challenging market conditions in its refining business for most of 2024, but saw a bright spot in its renewable diesel business. While the company saw a 68% decrease in its earnings from 2023 to $2.8 billion, the renewable diesel segment doubled its operating income to $170 million.

Industrial Info is tracking more than $1.4 billion worth of active and proposed projects across the U.S. and Canada from Valero, more than half of which is attributed to refining projects in Texas and Louisiana. Valero is preparing for a series of upgrades this year to fluid catalytic cracker units (FCCU) at some of its key refineries.

Other companies featured: Honeywell International (NASDAQ:HON)