01:20 PM EDT, 09/09/2025 (MT Newswires) -- Valero Energy ( VLO ) is in discussions with California lawmakers about receiving millions of dollars from the state to continue operating its San Francisco-area refinery, which is set to close in April, Bloomberg reported Tuesday, citing people familiar with the negotiations.

State funds of $80 million to $200 million would be allotted for the refinery's routine maintenance costs, though the terms of any arrangement are subject to change, the report said.

Legislators have until late Tuesday to submit bills for consideration, the report said.

Valero didn't respond to requests for comment, and California Governor Gavin Newsom's office and representatives for state senate and assembly leaders didn't respond to inquiries, Bloomberg said.

Valero did not immediately reply to a request for comment from MT Newswires.

Valero shares rose 2.9% in recent Tuesday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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