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AI brief of an SEC Form 8-K · Valero Energy (VLO)

Valero to idle or cease Benicia Refinery by end of April 2026; $1.1 billion impairment

Negative Impact 4 of 5 restructuring Written later

Valero said its subsidiary has notified California regulators it intends to idle, restructure, or cease operations at the Benicia Refinery by the end of April 2026. Valero also recorded a combined pre-tax impairment charge of $1.1 billion on the Benicia and Wilmington refineries, which it expects to exclude from first quarter 2025 adjusted earnings.

Key points

  • Benicia Refinery: intent to idle, restructure, or cease refining operations by end of April 2026
  • Combined pre-tax impairment charge of $1.1 billion for Benicia and Wilmington refineries, as of March 31, 2025
  • Included in the charge: expected asset retirement obligations of $337 million
  • Valero continues to evaluate strategic alternatives for its remaining California operations

The filing

CompanyValero Energy (VLO)
Form8-K, current report
Filed with the SECApr 16, 2025, 8:36 AM ET
Accession number0001193125-25-082159

Items reported: 2.02 Results of Operations8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 16, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.