Item 5.05 Amendments to the Registrant's Code of Ethics, or Waiver of a Provision

of the Code of Ethics.

On January 26, 2021, the Board of Directors of Valero Energy Corporation (the "Company") approved and adopted an amended and restated Code of Business Conduct and Ethics (the "Code"), which became effective as of January 26, 2021. The Code is applicable to all directors, officers, and employees of the Company, including the Company's principal executive officer, principal financial officer and principal accounting officer. Principal revisions to the Code include the following, among others:





  •   emphasizing the Company's core values and guiding principles;




     •    clarifying existing areas of importance when acting ethically and with
          integrity, including human rights, data privacy, expectations of business
          partners, external communications, including social media, and political
          participation; and




     •    improving the readability of the Code, including the addition of graphics
          and question and answer examples.

A copy of the revised Code is available on the Company's website at www.valero.com (under Investors > ESG > Governance Documents). The foregoing summary is qualified in its entirety by the full text of the Code, which is filed as Exhibit 14.1 to this Current Report on Form 8-K and incorporated herein by reference. The other contents of the Company's website are not incorporated by reference in this report.




Item 8.01 Other Events.

On January 26, 2021, the Board of Directors of the Company approved the Diamond Green Diesel joint venture's construction of a new 470 million gallons per year renewable diesel plant ("DGD 3") at the Company's Port Arthur, Texas refinery. The new plant is expected to commence operations in the second half of 2023, which is expected to increase the total annual production capacity of the Company's Diamond Green Diesel joint venture to approximately 1.2 billion gallons of renewable diesel and 50 million gallons of renewable naphtha. The Company's joint venture partner has also approved DGD 3.

Item 9.01 Financial Statements and Exhibits.




(d)



14.1      Valero Energy Corporation Code of Business Conduct and Ethics (as
        amended and restated, effective January 26, 2021).

104     The cover page from the Company's Current Report on Form 8-K, formatted in
        Inline XBRL


Safe-Harbor Statement

Statements contained in this communication that state the Company's or management's expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words "believe," "expect," "should," "estimates," "intend," "target," "will," "plans," and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements based on numerous factors, including those outside of the Company's control, including but not limited to the impacts of COVID-19. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see the Company's annual reports on Form 10-K, quarterly reports on Form 10-Q, and other reports filed with the Securities and Exchange Commission and available on the Company's website at www.valero.com.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses