Valero is biggest recipient of oil released from Strategic Petroleum Reserves, data analysis shows
Distillation towers and aboveground petroleum storage tanks at the Valero Energy Corp. Wilmington Refinery in Wilmington, Calif., on April 21, 2021. MUST CREDIT: Bloomberg photo by Bing GuanSAN ANTONIO — As the U.S. plans more releases from its oil reserves as part of an effort to tame U.S. fuel prices, a new analysis shows Valero Energy Corp. has been the biggest beneficiary.snapped up 52.
Valero's St. Charles refinery, where the company currently produces roughly 300 million gallons of renewable diesel annually.So far, the two biggest receivers have acquired nearly 98 million barrels. No. 2 after Valero was top oil processor Marathon Petroleum, which snapped up 45.2 million barrels, according to Reuters.
Marathon Petroleum declined to comment to Reuters on crude sourcing. Other companies did not respond to requests for comment.
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