secwatch.observer — SEC 8-K summary
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Issuer:     VALERO ENERGY CORP/TX (VLO)
CIK:        0001035002
Form:       8-K
Filed at:   2025-04-16T23:59:59+00:00
Accession:  0001193125-25-082159
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Valero to idle/restructure Benicia refinery, records $1.1B impairment on California assets
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- Valero subsidiary notified California Energy Commission of intent to idle/restructure/cease Benicia Refinery by end of April 2026.
- Recorded combined pre-tax impairment of $1.1B for Benicia and Wilmington refineries as of March 31, 2025.
- Impairment includes $337M asset retirement obligations; charge to be excluded from Q1 2025 adjusted earnings.
- Company continues evaluating strategic alternatives for remaining California operations.
- Charge reflects non-recoverability of carrying values; significant judgment used in estimates.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1035002/000119312525082159/0001193125-25-082159-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1035002/000119312525082159/d84892d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-082159

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