Valero Q3 2021 Earnings Results

• Net income attributable to shareholders of $463 million, or 1.13 per share.
• Adjusted net income attributable to shareholders of $500 million, or $1.22 per share.
• DGD 2 – 400-million-gallon expansion was completed ahead of schedule and under budget during Q3.
• DGD 3 – is expected to commence operations in first half of 2023, bringing total RD capacity to 1.2 billion gallons.
• Large-scale carbon sequestration project with BlackRock and Navigator is progressing on schedule.
• Refinery margins expected to see continued improvement due to low global product inventories and demand recovery.

Renewable Diesel

The renewable diesel segment, which consists of the Diamond Green Diesel (DGD) joint venture, reported $108 million of operating…