The parent firm of Valero gas stations, Valero Energy Corporation, was created on January 1, 1980 as the successor to LoVaca Gathering Company. Coastal States Gas Corporation had a subsidiary named LoVaca Gathering Company.
In 1978, the Texas Railroad Commission approved a $1.6 billion settlement between Coastal States Gas Corporation and its customers who had filed suit against the company. The settlement led to the establishment of Valero Energy Corporation. In the 1980s, Valero acquired a fifty percent stake in a Saber Energy-owned oil refinery. Valero added additional refineries in 1997 after acquiring Basis Petroleum. Throughout this expansion, Valero grew to become the largest independent refinery on the Gulf Coast. Valero possesses 15 facilities as of 2015. Valero entered the West Coast market in 2000 when it acquired the Benicia refinery. Following the transaction, the corporation additionally acquired 270 retail outlets and 80 company locations.
Valero entered the retail market during this time. The company acquired Huntway Refining Company and Ultramar Diamond Shamrock in 2001. In August of 2006, Valero became the leading fuel marketer in Texas. Valero had 1,900 wholesale and company-owned locations at the time. The company then signed into a contract with Susser Petroleum to supply fuel to Susser’s Texas and Oklahoma facilities. In 2011, Valero acquired refineries in the United Kingdom and Ireland. As of September 2015, the company is capable of producing 2,9 million barrels per day of crude oil.
