Valero reports profitable Q4 for renewable diesel, ethanol

▤ Summary

During an earnings call held Jan. 26, Valero Chairman and CEO Joe Gorder said the new DGD project in Port Arthur was completed under budget and ahead of schedule. DGD, a joint venture between Valero and Darling Ingredients Inc., also operates a facility in Norco, Louisiana. Expanded DGD operations allowed Valero to set another sales volume record in the fourth quarter, Gorder said. Higher operating income for the fourth quarter of 2021 was primarily attributed to high ethanol prices due to strong demand and low inventories. Gorder said the carbon sequestration project under development by BlackRock and Navigator is progressing on schedule and is currently expected to begin startup activities in late 2024.

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