1035002--2/26/2010--VALERO_ENERGY

related topics

{gas, price, oil}

{regulation, change, law}

{loss, insurance, financial}

{stock, price, operating}

{capital, credit, financial}

{condition, economic, financial}

{operation, natural, condition}

Corpus Christi East and West Refineries Our financial results are affected by volatile refining margins and global economic activity. Uncertainty and illiquidity in credit and capital markets can impair our ability to obtain credit and financing on acceptable terms, and can adversely affect the financial strength of our business partners. Compliance with and changes in environmental laws, including proposed climate change laws and regulations, could adversely affect our performance. Disruption of our ability to obtain crude oil could adversely affect our operations Competitors that produce their own supply of feedstocks, have more extensive retail outlets, or have greater financial resources may have a competitive advantage A significant interruption in one or more of our refineries could adversely affect our business. We maintain insurance against many, but not all, potential losses arising from operating hazards. Failure by one or more insurers to honor its coverage commitments for an insured event could materially and adversely affect our future cash flows, operating results, and financial condition Compliance with and changes in tax laws could adversely affect our performance.

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1035002--2/26/2010--VALERO_ENERGY_CORP/TX