The summary below was generated by an AI language model and may contain errors or omissions. All other content on this page is deterministically extracted from the original SEC EDGAR filing.
Valero maintained its overall risk disclosure framework with 23 total risk factors, making no structural additions or removals between 2024 and 2025. However, the company substantially revised 18 of its existing risk disclosures, with the most significant modifications affecting operational continuity risks at refineries and plants, cybersecurity and data breach vulnerabilities, data privacy regulatory compliance, environmental and safety regulations, and volatile margin dynamics. These revisions suggest Valero deepened its articulation of existing risk categories rather than identifying fundamentally new threat areas.
Classification is based on semantic text similarity scoring and may include approximations. “No match” means no high-confidence textual match was found — not necessarily that a section was removed.
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We are subject to risks arising from an interruption in any of our refineries or plants.
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We are subject to risks arising from a significant breach of our information systems.
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Increasing legal and regulatory focus on data privacy and security issues could expose us to increased liability and operational changes and costs.
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Other applicable environmental, health, and safety laws and regulations expose us to various risks.
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Our financial results are affected by volatile margins, which are dependent upon factors beyond our control, including the price of feedstocks and the market price at which we can sell our products.
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We may incur losses and additional costs as a result of our hedging transactions.
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We are subject to risks arising from legal, regulatory, and political developments regarding climate-related matters, GHG emissions, and the environment, or that are adverse to or restrict refining and marketing operations.
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We are subject to risks arising from the Renewable and Low-Carbon Fuel Programs, and other regulations, policies, international certifications, and standards impacting low-carbon fuels.
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Competitors that produce their own supply of feedstocks, own their own retail sites, operate in different regions, or have greater financial resources may have a competitive advantage.
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Large capital and other strategic projects can take many years to complete, and the legal regulatory, and political environments or other market conditions may change or deteriorate over time.
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We are subject to risks arising from severe weather events.
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We are subject to risks related to the costs and availability of our feedstocks and other critical supplies.
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Industry, market, and other developments could decrease the demand for our products.
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We are subject to risks arising from litigation, government action, and mandatory disclosure rules related to climate-related and other sustainability-related matters, or aimed at the fossil fuel industry.
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We are subject to risks arising from sentiment towards climate-related matters, fossil fuels, GHG emissions, and other sustainability-related matters.
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We are subject to risks arising from our refining and marketing operations outside of the U.S.
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Our ability to adequately insure losses or liabilities arising from various hazards exposes us to risks.
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We are subject to risks arising from transportation and logistics disruptions and availability.
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