Valero Energy to Buy Venezuelan Crude from Three Sellers, Expects Over 240K BPD Capacity

Valero Energy (VLO) will purchase Venezuelan crude from three authorized sellers starting February 2026, signaling a major shift in its heavy crude sourcing as U.S. policy eases under renewed Venezuela engagement. The refiner, which did not name the suppliers, stated on its Jan 29 earnings call that Venezuelan barrels will constitute a “pretty large part” of its heavy crude intake in February and March. Valero confirmed its processing capacity for Venezuelan crude exceeds 240,000 barrels per day. The move follows U.S. efforts to revive Venezuela’s oil sector after political developments in early January 2026 involving President Nicolas Maduro. Valero opened Q1 2026 U.S. refiner earnings season with this announcement.