Valero Plans $2 Billion Capex in 2021 as Refined Products Demand Increases

SUGAR LAND--April 26, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--Refiner Valero Energy Corporation (NYSE:VLO) (San Antonio, Texas) faced outages at some of its facilities during Winter Storm Uri, but the company recovered quickly and remains optimistic about refined product demand as more people return to travelling. Valero expects capital investments to be approximately $2 billion this year, with about 60% of this going toward sustaining the business and 40% toward growth.