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U.S. Refining Giant Valero to Shut California Refinery ...Middle East
Valero Energy plans to idle, restructure, or cease refining operations at its Benicia Refinery in California by the end of April 2026, as one of the biggest U.S. refiners continues to evaluate strategic alternatives for its operations in California. In connection with the evaluation of these strategic alternatives, Valero took a combined pre-tax impairment charge of $1.1 billion for its California operations. The impairment was recorded for the Benicia and Wilmington refineries and is expected to be treated as a special item and excluded from the…
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