Tag #Benicia

What are the immediate economic consequences of Valero's potential closure of its Benicia refinery, and how will it affect Benicia's employment and tax revenue?

Valero's Benicia refinery, holding 8.94% of California's crude oil capacity and employing over 400 workers, may cease operations by April 2026. Signature Development Group is collaborating with Valero to explore redevelopment options for the site, impacting Benicia's economy significantly as the refinery is its largest employer and tax revenue source.