Valero Energy (VLO) official guidance

Approximately $1.7 billion is allocated to sustaining the business, with the remainder directed toward growth projects.

Turning to guidance, we still expect capital investments attributable to Valero for 2026 to be approximately $2 billion.

For the fourth quarter, net interest expense should be about $135 million, and total depreciation and amortization expense should be approximately $700 million.

Our ethanol segment is expected to produce 4.9 million gallons per day in the fourth quarter.

As previously guided, we expect a substantial portion of the cost to be covered by insurance.

For the fourth quarter, net interest expense should be about $135 million, and total depreciation and amortization expense should be approximately $700 million.

Operating expenses should average $0.38 per gallon, which includes $0.04 per gallon for non-cash costs such as depreciation and amortization.

Operating expenses should be $0.53 per gallon, including $0.23 per gallon for non-cash costs such as depreciation and amortization.

Operating expenses should average $0.38 per gallon, which includes $0.04 per gallon for non-cash costs such as depreciation and amortization.

We expect refining cash operating expenses in the fourth quarter to be approximately $4.85 per barrel.

Operating expenses should be $0.53 per gallon, including $0.23 per gallon for non-cash costs such as depreciation and amortization.

Lastly, G&A expenses for 2026 are expected to be approximately $1.1 billion.

Repairs to the Port Arthur DHT unit remain on track for completion by year-end.

For modeling our fourth quarter operations, we expect refining throughput volumes to fall within the following ranges: Gulf Coast at 1.855 million to 1.905 million barrels per day, Mid Continent at 440,000 to 460,000 barrels per day, West Coast at 100,000 to 110,000 barrels per day, and North Atlantic at 480,000 to 500,000 barrels per day.

For modeling our fourth quarter operations, we expect refining throughput volumes to fall within the following ranges: Gulf Coast at 1.855 million to 1.905 million barrels per day, Mid Continent at 440,000 to 460,000 barrels per day, West Coast at 100,000 to 110,000 barrels per day, and North Atlantic at 480,000 to 500,000 barrels per day.

For modeling our fourth quarter operations, we expect refining throughput volumes to fall within the following ranges: Gulf Coast at 1.855 million to 1.905 million barrels per day, Mid Continent at 440,000 to 460,000 barrels per day, West Coast at 100,000 to 110,000 barrels per day, and North Atlantic at 480,000 to 500,000 barrels per day.

For modeling our fourth quarter operations, we expect refining throughput volumes to fall within the following ranges: Gulf Coast at 1.855 million to 1.905 million barrels per day, Mid Continent at 440,000 to 460,000 barrels per day, West Coast at 100,000 to 110,000 barrels per day, and North Atlantic at 480,000 to 500,000 barrels per day.

For the renewable diesel segment, we expect sales volumes of approximately 325 million gallons in the fourth quarter.

Total repair costs are still estimated to be approximately $250 million, which are included in our sustaining capital guidance.

Consequently, inventory levels at December 31, 2026 are expected to remain below those at December 31, 2025.