Valero Energy Corporation (VLO), a leading independent refining company, operates 14 refineries with a total throughput capacity of 3 million barrels per day. The geopolitical tensions in the Middle East and access to discounted Venezuelan heavy sour crude have positively impacted the refining environment, particularly benefiting Valero’s complex refining system, which can efficiently process a variety of feedstocks.
Valero has reported a 92% increase in stock price over the past year, outperforming the industry average of 61.6%. It currently trades at an enterprise value to EBITDA (EV/EBITDA) ratio of 7.48X, above the industry average of 5.9X. The latest earnings estimates for 2026 have been revised upward, indicating continued positive investor sentiment and growth potential in the refining sector.
Other notable refining companies include Par Pacific Holdings (PARR), based in Houston with a refining capacity of 219,000 barrels per day, and PBF Energy, which operates six refineries with a combined capacity of 1 million barrels per day.
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