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Neel Mehta

Vice President and Integrated Oil & Refining Analyst at Goldman Sachs

Neil Mehta is a Vice President and Integrated Oil & Refining Analyst at Goldman Sachs, specializing in the energy sector with a focus on oil & gas, refining, and related industrials and materials. He covers major companies including Exxon Mobil (XOM), HF Sinclair (DINO), Chevron (CVX), APA, Permian Resources (PR), EOG Resources, and Antero Resources (AR), achieving a strong performance track record with a 58-59% success rate, average return of 7.47-8.80% per rating, and a 3.91-4.67 star ranking on platforms like TipRanks and StockAnalysis. Mehta has delivered standout calls such as a Buy on Kosmos Energy (KOS) yielding +188% return, and ranks in the top 10% of Wall Street analysts with over 355-901 ratings analyzed. His career at Goldman Sachs includes leadership as Head of Americas Natural Resources Equity Research, building on prior experience in equity research focused on energy markets.

Neel Mehta's questions to VALERO ENERGY CORP/TX (VLO) leadership

Question · Q4 2025

Neel Mehta followed up on heavy crude discounts, particularly for Western Canadian crude, and the competition from Venezuelan barrels in the Gulf Coast, asking if Venezuelan barrels would need to compete at wider discounts against Valero's alternatives.

Answer

R. Lane Riggs, Chairman, CEO, and President, stated that Valero evaluates Venezuelan crude like all alternatives and purchases it if it beats other options. He confirmed engagement with authorized sellers and anticipated Venezuelan crude making up a significant portion of Valero's heavy diet in February and March.

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