HES vs VLO

Hess Corporation

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates through two segments, Exploration and Production, and Marketing and Refining. It conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico. As of December 31, 2020, the company had total proved reserves of 1,077 million barrels of oil equivalent. It is also involved in the gathering, compressing, and processing of natural gas; fractionating NGLs; gathering, terminaling, loading, and transporting crude oil and NGLs through rail car; storing and terminaling propane, as well as providing water handling services primarily in the Bakken Shale plays in the Williston Basin area of North Dakota. The company was incorporated in 1920 and is headquartered in New York, New York.

Valero Energy Corporation

Valero Energy Corporation manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol. The company is involved in oil and gas refining, marketing, and bulk selling activities. It produces conventional, premium, and reformulated gasolines; gasoline meeting the specifications of the California Air Resources Board (CARB); diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels; CARB diesel; other distillates; jet fuels; blendstocks; lube oils and natural gas liquids; and asphalts, petrochemicals, lubricants, and other refined petroleum products. As of December 31, 2020, the company owned 15 petroleum refineries with a combined throughput capacity of approximately 3.2 million barrels per day. It sells its refined products through wholesale rack and bulk markets; and through approximately 7,000 outlets under the Valero, Beacon, Diamond Shamrock, Shamrock, Ultramar, and Texaco brands. The company also produces and sells ethanol, dry distiller grains, syrup, and inedible corn oil primarily to refiners and gasoline blenders, as well as to animal feed customers. It owns and operates 13 ethanol plants with a combined ethanol production capacity of approximately 1.69 billion gallons per year. In addition, the company owns and operates crude oil and refined petroleum products pipelines, terminals, tanks, marine docks, truck rack bays, and other logistics assets. Further, it owns and operates a plant that processes animal fats, used cooking oils, and other vegetable oils into renewable diesel. The company was formerly known as Valero Refining and Marketing Company and changed its name to Valero Energy Corporation in August 1997. Valero Energy Corporation was founded in 1980 and is headquartered in San Antonio, Texas.