Valero’s Refinery Feedstock and Throughput Volume (2016-2022)

This statistic highlights Valero’s Refinery Feedstock and Throughput Volume from 2016 onwards, split between Heavy sour crude oil, Medium/light sour crude oil, Sweet crude oil, Residuals, Blendstocks & other, and Other feedstocks.

Valero’s Refinery Feedstock and Throughput Volume

(All figures in thousand barrels per day, or bpd, except percentages)

Throughout the United States, Canada, and the United Kingdom, Valero has around 15 Refineries having a throughput volume of approximately 3 million barrels of crude oil per day from suppliers which are shipped through rail, trucks, pipeline, or ships and barges. This crude oil is stored in Valero’s refineries, which can store 26.2 million barrels. Crude oil is then heated and transferred to a distillation tower, where it is separated by boiling point. The materials get converted into fuels like gasoline, diesel, asphalt, and solvents.

Crude oil is a fossil fuel found in underground reservoirs. It is characterized by density, sulfur content, acidity, and is measured in weight per cent. Density is measured in API Gravity which is the relative density of crude oil to water. Crude with an API Gravity of more than 10 floats in the water whereas a crude with an API Gravity less than 10 sinks in the water. Crude is also classified as sweet and sour. This depends upon the sulfur content in the crude oil. Crude with less than 0.5% sulfur is considered sweet crude whereas a crude with more than 0.5% sulfur is considered sour.

Heavy sour crude oil (000’s bpd)

Heavy sour crude oil has an API gravity of less than 24 whereas the sulfur content is greater than 0.5 weight per cent. Such crude oil evaporates slowly and contains material that is used to make heavy products like asphalt. Heavy crudes provide feedstock for petrochemicals, plastics, and road surfacing. In Q1 2021, Valero’s throughput volume of heavy sour crude oil was 354,000 bpd. However, there has been a decrease in throughput volume by 2% from 360,000 bpd in Q1 2020.

Medium/light sour crude oil (000’s bpd)

Medium sour crude oil has an API gravity between 24 and 34 and Light sour crude oil has an API gravity greater than 34 and both medium and light sour crude oil have sulfur content greater than 0.5 weight per cent. Such crude oils are primarily used to create fuels such as gasoline, diesel, and aviation fuels. Valero’s throughput volume of medium and light sour crude oil has grown by 9% year-over-year from 252,000 bpd in Q1 2020 to 275,000 bpd in Q1 2021.

Sweet crude oil (000’s BPD) 

Sweet crude oil has low sulfur content usually less than 0.5%. When combined with low density, sweet crude oil is a highly sought-after type of oil that commands a high price. A popular example of sweet crude oil is the West Texas Intermediate (WTI) crude oil. It is actively traded on the New York Mercantile Exchange (NYMEX). Valero’s sweet crude oil throughput volume has decreased by 26% year-over-year from 1,538,000 bpd in Q1 2020 to 1,143,000 bpd in Q1 2021. 

Residuals (000’s bpd)

Residual fuel oil is a low-value petroleum product. It is a by-product of producing light products which are the prime locus of the Valero refineries. Residual fuel oil is used as a fuel in simple furnaces in power plants and industrial boilers as well as in ocean-going ships where it is called bunker fuel. Residual fuel oil has maximum sulfur content due to environmental concerns. Valero’s Residuals throughput volume has decreased by 18% year-over-year from 235,000 bpd in Q1 2020 to 192,000 bpd in Q1 2021.

Blendstocks and other (000’s BPD)

Blendstocks are any unfinished oil that is blended with other similar unfinished oils which ultimately makes a final refined product. Mostly blendstocks are composed and used inside the same refinery. However, some are traded either between refiners or with third-party product blenders through markets. Valero’s blendstocks throughput volume increased by only 1% year-over-year from 339,000 bpd in Q1 2020 to 344,000 bpd in Q1 2021.

Other feedstocks (000’s BPD)

Feedstocks are any hydrocarbon input to a processing unit which could be crude oil or any refining stream. When feedstock is used to feed to the entire refinery then it typically means non-crude feedstocks like VGO and blendstocks. Valero’s feedstocks throughput volume increased by 2% year-over-year from 100,000 bpd in Q1 2020 to 102,000 bpd in Q1 2021.

In Q1 2021, Valero’s total throughput volume has declined by 15% from 2,824,000 BPD in Q1 2020 to 2,410,000 BPD. This decline in throughput volume was mainly due to a reduction in global economic activity which resulted in airlines drastically cutting back on flights and also due to declining in motor vehicle use due to lockdown restrictions.

Company Overview

Valero Energy Corporation is an American-based company incorporated in 1980. Joseph W. Gorder is the current Chairman of the Board and Chief Executive Officer of Valero. Its headquarters is in San Antonio, Texas. Valero Energy Corporation completed its initial public offering in 2013 and its common stocks are traded on the New York Stock Exchange under the trading symbol “VLO”.

Valero Energy Corporation manufactures and markets transportation fuels, power, and other petrochemical products. It churns out approximately 3 million barrels per day refining premium gasoline, low-cost diesel, ultra-low sulfur as well as other refined petroleum products. It has around 15 refineries in the UK, the US, and Canada and also has 15 ethanol plants having a capacity of about 1.7 billion gallons per year. Some of its competitors are Delek US Holdings, Chevron, Exxon Mobil Corporation, Marathon Petroleum Corporation (MPC), Phillips 66, Trafigura, Continental Resources, and Indian Oil Corporation.

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