Valero Energy Poised to Acquire Venezuelan Crude

2026-03-04 15:01:52

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Valero Energy (VLO) is anticipated to purchase up to 6.5 million barrels of Venezuelan crude in March, potentially positioning the company as the largest foreign refiner of Venezuelan oil since the U.S. sanctions on President Maduro. This acquisition, coupled with increased refining capacity at its Port Arthur refinery and expected supply from Chevron (CVX), could allow Valero to surpass Chevron as the top U.S. refiner of Venezuelan crude, solidifying its market leadership in heavy oil.

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