Valero Energy Corporation outlined a $2 billion capital investment plan for 2026, with approximately $1.7 billion allocated to sustaining the business and the remainder directed toward growth projects. Repairs to the Port Arthur DHT unit are expected to be completed and the unit returned to service by year-end, with total repair costs estimated at $250 million, a substantial portion of which is expected to be covered by insurance. The company reported second-quarter net income of $3.7 billion, or $12.62 per share, driven by strong performance across its refining, renewable diesel, and ethanol segments. Refining throughput volumes averaged 3 million barrels per day, while the renewable diesel segment posted operating income of $717 million and the ethanol segment reported $318 million. Shareholder cash returns totaled $2.6 billion in the quarter, resulting in a payout ratio of 59%, and the debt-to-capitalization ratio, net of cash, stood at 11% as of June 30, 2026.
Valero Energy CorporationValero announces $2B 2026 capex plan, strong Q2 earnings, and high shareholder returns.