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Fortune 500 Top 10 companies: Who’s the new No. 1?

Fortune has released its annual list of the largest corporations in the United States, and there were a few notable changes in this year’s group. Here are the Top 10.

- Schuyler VelascoStaff writer

Gas prices are posted at a Valero gas station in Palo Alto, Calif., in 2009. Valero gasoline is also sold under the Diamond Shamrock, Shamrock, and Beacon brands in the US and the Caribbean – and under the Ultramar brand in Canada. (Paul Sakuma/AP/File)

9. Valero Energy

Headquarters: San Antonio

Revenue: $138.3 billion

Profit: $2.1 billion

2012 rank: 12

Valero has 16 petroleum refineries and employs some 22,000 people in the US and abroad. It is the largest independent oil refiner in the US, and last month a plan was approved to spin off its retail business, CST Brands, into a separate company. The news sent Valero’s share price climbing. 

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