content: <PAGE>   1
                      UNITED STATES                    --------------------------
            SECURITIES AND EXCHANGE COMMISSION                 OMB APPROVAL
                   WASHINGTON, DC 20549                --------------------------
                                                       OMB Number:      3235-0101
                        FORM 144                       Expires:      May 31, 2000
                                                       Estimated average burden
          NOTICE OF PROPOSED SALE OF SECURITIES        hours per response ... 2.0
        PURSUANT TO RULE 144 UNDER THE SECURITIES      --------------------------
                        ACT OF 1933                    --------------------------
                                                          S.E.C. USE ONLY
        ATTENTION: Transmit for filing three copies
               of this form concurrently with          --------------------------
        either placing an order with a broker to       DOCUMENT SEQUENCE NO.
             execute a sale or executing a sale
              directly with a market maker.            --------------------------
                                                       CUSIP NUMBER
  
                                                       --------------------------
                                                       WORK LOCATION
  
                                                       --------------------------
  <TABLE>
  <S>                                                          <C>                      <C>                   <C>            <C>
  ---------------------------------------------------------------------------------------------------------
   1(a) NAME OF ISSUER (Please type or print)                  (b) I.R.S. IDENT. NO.    (c) S.E.C. FILE NO.
   Valero Energy Corporation                                   74-1828067                1-13175
  ------------------------------------------------------------------------------------------------------------------------------------
   1(d) ADDRESS OF ISSUER                   STREET           CITY           STATE           ZIP CODE             (e) TELEPHONE NO.
                                       One Valero Place   San Antonio        TX             78212             ------------------------
                                                                                                              AREA CODE      NUMBER
                                                                                                                210         370-2000
  ------------------------------------------------------------------------------------------------------------------------------------
   2(a) NAME OF PERSON FOR WHOSE ACCOUNT   (b) I.R.S. IDENT.     (c) RELATIONSHIP   (d) ADDRESS    STREET    CITY    STATE    ZIP CODE
        THE SECURITIES ARE TO BE SOLD          NO.                   TO ISSUER
  
   S. Eugene Edwards                        ###-##-####          Vice President           One Valero Place  San Antonio  TX     78212
  ------------------------------------------------------------------------------------------------------------------------------------
  </TABLE>
  
   INSTRUCTION: The person filing this notice should contact the issuer to obtain
                THE I.R.S. Identification Number and the S.E.C. File Number.
  <TABLE>
  <S>                   <C>                                          <C>                 <C>                  <C>
  ------------------------------------------------------------------------------------------------------------------------------
         3(a)                            (b)                                                    (c)                  (d)
     TITLE OF THE          NAME AND ADDRESS OF EACH BROKER           S.E.C. USE ONLY     NUMBER OF SHARES         AGGREGATE
       CLASS OF         THROUGH WHOM THE SECURITIES ARE TO BE        ---------------      OR OTHER UNITS           MARKET
      SECURITIES         OFFERED OR EACH MARKET MAKER WHO IS          BROKER-DEALER         TO BE SOLD              VALUE
      TO BE SOLD               ACQUIRING THE SECURITIES                FILE NUMBER       (See instr. 3(c))    (See instr. 3(d))
  ------------------------------------------------------------------------------------------------------------------------------
                             Fidelity Brokerage Services
   Common Stock        161 Devonshire Street, Boston, MA 02109                               2,672                $90,514
  ------------------------------------------------------------------------------------------------------------------------------
  
  ------------------------------------------------------------------------------------------------------------------------------
  
  ------------------------------------------------------------------------------------------------------------------------------
  <S>                   <C>                          <C>                    <C>
         3(a)                (e)                      (f)                    (g)
     TITLE OF THE       NUMBER OF SHARES            APPROXIMATE            NAME OF EACH
       CLASS OF          OR OTHER UNITS             DATE OF SALE            SECURITIES
      SECURITIES           OUTSTANDING           (See instr. 3(f))           EXCHANGE
      TO BE SOLD        (See instr. 3(e))         (Mo.  Day  Yr.)       (See instr. 3(g))
  ------------------------------------------------------------------------------------------------
                            28,405                  12/18/00                 NYSE
  ------------------------------------------------------------------------------------------------
  
  ------------------------------------------------------------------------------------------------
  
  ------------------------------------------------------------------------------------------------
  
  INSTRUCTIONS:
     1.  (a) Name of issuer
         (b) Issuer's I.R.S. Identification Number
         (c) Issuer's S.E.C. file number, if any
         (d) Issuer's address, including zip code
         (e) Issuer's telephone number, including area code
  
     2.  (a) Name of person for whose account the securities are
             to be sold
         (b) Such person's I.R.S. identification number, if such
             person is an entity
         (c) Such person's relationship to the issuer (e.g.,
             officer, director, 10 percent stockholder, or member
             of immediate family of any of the foregoing)
         (d) Such person's address, including zip code
  
     3.  (a) Title of the class of securities to be sold
         (b) Name and address of each broker through whom the
             securities are intended to be sold
         (c) Number of shares or other units to be sold (if debt
             securities, give the aggregate face amount)
         (d) Aggregate market value of the securities to be sold
             as of a specified date within 10 days prior to the
             filing of this notice
         (e) Number of shares or other units of the class
             outstanding, or if debt securities the face amount
             thereof outstanding, as shown by the most recent
             report or statement published by the issuer
         (f) Approximate date on which the securities are to be
             sold
         (g) Name of each securities exchange, if any, on which
             the securities are intended to be sold
  </TABLE>
  
  POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED
  IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY
  VALID OMB CONTROL NUMBER.
  
  
  
  SEC 1147(7-97)
  <PAGE>   2
  
                           TABLE I--SECURITIES TO BE SOLD
     Furnish the following information with respect to the acquisition of the
     securities to be sold and with respect to the payment of all or any part
              of the purchase price or other consideration therefor:
  
  <TABLE>
  <S>              <C>         <C>                      <C>                        <C>               <C>          <C>
  ---------------------------------------------------------------------------------------------------------------------------------
       Title of    Date you    Nature of Acquisition    Name of Person from        Amount of         Date of      Nature of Payment
      the Class    Acquired          Transaction           Whom Acquired          Securities         Payment
                                                        (If gift, also give        Acquired
                                                        date donor acquired)
  ---------------------------------------------------------------------------------------------------------------------------------
  Common Stock      08/01/97   Rollover distribution to   Valero Energy            2,672             n/a               n/a
                               IRA of VLO stock held in   Corporation
                               Valero Energy Corporation
                               Thrift Plan
  ---------------------------------------------------------------------------------------------------------------------------------
  
  INSTRUCTIONS:
   1. If the securities were purchased and full payment therefor was not made in
      cash at the time of purchase, explain in the table or in a note thereto the
      nature of the consideration given. If the consideration consisted of any
      note or other obligation, or if payment was made in installments describe
      the arrangement and state when the note or other obligation was discharged
      in full or the last installment paid.
  
   2. If within two years after the acquisition of the securities the person for
      whose account they are to be sold had any short positions, put or other
      option to dispose of securities referred to in paragraph (d)(3) of Rule 144,
      furnish full information with respect thereto.
  
  ------------------------------------------------------------------------------------------------------------------------------------
  
                TABLE II--SECURITIES SOLD DURING THE PAST 3 MONTHS
       Furnish the following information as to all securities of the issuer
                            sold during the past three
       months by the person for whose account the securities are to be sold.
  
  <S>                                       <C>                              <C>                 <C>               <C>
  ------------------------------------------------------------------------------------------------------------------------------------
     Name and Address of Seller             Title of Securities Sold         Date of Sale         Amount of        Gross Proceeds
                                                                                                 Securities
                                                                                                    Sold
  
  ------------------------------------------------------------------------------------------------------------------------------------
    None
  ------------------------------------------------------------------------------------------------------------------------------------
  REMARKS:
  
  INSTRUCTIONS:
   See the definition of "person" in paragraph (a) of Rule 144. Information is to
   be given not only as to the person for whose account the securities are to be
   sold but also as to all other persons included in that definition. In addition,
   information shall be given as to sales by all persons whose sales are required
   by paragraph (e) of Rule 144 to be aggregated with sales for the account of the
   person filing this notice.
                                    12/18/00
                      ----------------------------------------
                                  DATE OF NOTICE
  ATTENTION:
   The person for whose account the securities to which this notice relates are to
   be sold hereby represents by signing this notice that he does not know any
   material adverse information in regard to the current and prospective
   operations of the Issuer of the securities to be sold which has not been
   publicly disclosed.
                              /s/ S. EUGENE EDWARDS
                      ----------------------------------------
                                    (SIGNATURE)
                                  S. Eugene Edwards
  
  The notice shall be signed by the person for whose account the securities are
      to be sold. At least one copy of the notice shall be manually signed.
      Any copies not manually signed shall bear typed or printed signatures.
  
  --------------------------------------------------------------------------------
   ATTENTION: INTERNATIONAL MISSTATEMENTS OR OMISSION OF FACTS CONSTITUTE FEDERAL
                     CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
  --------------------------------------------------------------------------------
  
                                                                    SEC 1147(7-97)
  </TABLE>
metadata_documents: [{"type": "144", "sequence": "1", "filename": "d82469e144.txt", "description": "FORM 144-NOTICE OF PROPOSED SALE OF SECURITIES", "secsgml_size_bytes": 12788}]
text: 1
                      UNITED STATES                    --------------------------
            SECURITIES AND EXCHANGE COMMISSION                 OMB APPROVAL
                   WASHINGTON, DC 20549                --------------------------
                                                       OMB Number:      3235-0101
                        FORM 144                       Expires:      May 31, 2000
                                                       Estimated average burden
          NOTICE OF PROPOSED SALE OF SECURITIES        hours per response ... 2.0
        PURSUANT TO RULE 144 UNDER THE SECURITIES      --------------------------
                        ACT OF 1933                    --------------------------
                                                          S.E.C. USE ONLY
        ATTENTION: Transmit for filing three copies
               of this form concurrently with          --------------------------
        either placing an order with a broker to       DOCUMENT SEQUENCE NO.
             execute a sale or executing a sale
              directly with a market maker.            --------------------------
                                                       CUSIP NUMBER
  
                                                       --------------------------
                                                       WORK LOCATION
  
                                                       --------------------------
  ---------------------------------------------------------------------------------------------------------
   1(a) NAME OF ISSUER (Please type or print)                  (b) I.R.S. IDENT. NO.    (c) S.E.C. FILE NO.
   Valero Energy Corporation                                   74-1828067                1-13175
  ------------------------------------------------------------------------------------------------------------------------------------
   1(d) ADDRESS OF ISSUER                   STREET           CITY           STATE           ZIP CODE             (e) TELEPHONE NO.
                                       One Valero Place   San Antonio        TX             78212             ------------------------
                                                                                                              AREA CODE      NUMBER
                                                                                                                210         370-2000
  ------------------------------------------------------------------------------------------------------------------------------------
   2(a) NAME OF PERSON FOR WHOSE ACCOUNT   (b) I.R.S. IDENT.     (c) RELATIONSHIP   (d) ADDRESS    STREET    CITY    STATE    ZIP CODE
        THE SECURITIES ARE TO BE SOLD          NO.                   TO ISSUER
  
   S. Eugene Edwards                        ###-##-####          Vice President           One Valero Place  San Antonio  TX     78212
  ------------------------------------------------------------------------------------------------------------------------------------
  INSTRUCTION: The person filing this notice should contact the issuer to obtain
                THE I.R.S. Identification Number and the S.E.C. File Number.
  ------------------------------------------------------------------------------------------------------------------------------
         3(a)                            (b)                                                    (c)                  (d)
     TITLE OF THE          NAME AND ADDRESS OF EACH BROKER           S.E.C. USE ONLY     NUMBER OF SHARES         AGGREGATE
       CLASS OF         THROUGH WHOM THE SECURITIES ARE TO BE        ---------------      OR OTHER UNITS           MARKET
      SECURITIES         OFFERED OR EACH MARKET MAKER WHO IS          BROKER-DEALER         TO BE SOLD              VALUE
      TO BE SOLD               ACQUIRING THE SECURITIES                FILE NUMBER       (See instr. 3(c))    (See instr. 3(d))
  ------------------------------------------------------------------------------------------------------------------------------
                             Fidelity Brokerage Services
   Common Stock        161 Devonshire Street, Boston, MA 02109                               2,672                $90,514
  ------------------------------------------------------------------------------------------------------------------------------
  
  ------------------------------------------------------------------------------------------------------------------------------
  
  ------------------------------------------------------------------------------------------------------------------------------
  3(a)                (e)                      (f)                    (g)
     TITLE OF THE       NUMBER OF SHARES            APPROXIMATE            NAME OF EACH
       CLASS OF          OR OTHER UNITS             DATE OF SALE            SECURITIES
      SECURITIES           OUTSTANDING           (See instr. 3(f))           EXCHANGE
      TO BE SOLD        (See instr. 3(e))         (Mo.  Day  Yr.)       (See instr. 3(g))
  ------------------------------------------------------------------------------------------------
                            28,405                  12/18/00                 NYSE
  ------------------------------------------------------------------------------------------------
  
  ------------------------------------------------------------------------------------------------
  
  ------------------------------------------------------------------------------------------------
  
  INSTRUCTIONS:
     1.  (a) Name of issuer
         (b) Issuer's I.R.S. Identification Number
         (c) Issuer's S.E.C. file number, if any
         (d) Issuer's address, including zip code
         (e) Issuer's telephone number, including area code
  
     2.  (a) Name of person for whose account the securities are
             to be sold
         (b) Such person's I.R.S. identification number, if such
             person is an entity
         (c) Such person's relationship to the issuer (e.g.,
             officer, director, 10 percent stockholder, or member
             of immediate family of any of the foregoing)
         (d) Such person's address, including zip code
  
     3.  (a) Title of the class of securities to be sold
         (b) Name and address of each broker through whom the
             securities are intended to be sold
         (c) Number of shares or other units to be sold (if debt
             securities, give the aggregate face amount)
         (d) Aggregate market value of the securities to be sold
             as of a specified date within 10 days prior to the
             filing of this notice
         (e) Number of shares or other units of the class
             outstanding, or if debt securities the face amount
             thereof outstanding, as shown by the most recent
             report or statement published by the issuer
         (f) Approximate date on which the securities are to be
             sold
         (g) Name of each securities exchange, if any, on which
             the securities are intended to be sold
  POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED
  IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY
  VALID OMB CONTROL NUMBER.
  
  SEC 1147(7-97)
  2
  
                           TABLE I--SECURITIES TO BE SOLD
     Furnish the following information with respect to the acquisition of the
     securities to be sold and with respect to the payment of all or any part
              of the purchase price or other consideration therefor:
  ---------------------------------------------------------------------------------------------------------------------------------
       Title of    Date you    Nature of Acquisition    Name of Person from        Amount of         Date of      Nature of Payment
      the Class    Acquired          Transaction           Whom Acquired          Securities         Payment
                                                        (If gift, also give        Acquired
                                                        date donor acquired)
  ---------------------------------------------------------------------------------------------------------------------------------
  Common Stock      08/01/97   Rollover distribution to   Valero Energy            2,672             n/a               n/a
                               IRA of VLO stock held in   Corporation
                               Valero Energy Corporation
                               Thrift Plan
  ---------------------------------------------------------------------------------------------------------------------------------
  
  INSTRUCTIONS:
   1. If the securities were purchased and full payment therefor was not made in
      cash at the time of purchase, explain in the table or in a note thereto the
      nature of the consideration given. If the consideration consisted of any
      note or other obligation, or if payment was made in installments describe
      the arrangement and state when the note or other obligation was discharged
      in full or the last installment paid.
  
   2. If within two years after the acquisition of the securities the person for
      whose account they are to be sold had any short positions, put or other
      option to dispose of securities referred to in paragraph (d)(3) of Rule 144,
      furnish full information with respect thereto.
  
  ------------------------------------------------------------------------------------------------------------------------------------
  
                TABLE II--SECURITIES SOLD DURING THE PAST 3 MONTHS
       Furnish the following information as to all securities of the issuer
                            sold during the past three
       months by the person for whose account the securities are to be sold.
  ------------------------------------------------------------------------------------------------------------------------------------
     Name and Address of Seller             Title of Securities Sold         Date of Sale         Amount of        Gross Proceeds
                                                                                                 Securities
                                                                                                    Sold
  
  ------------------------------------------------------------------------------------------------------------------------------------
    None
  ------------------------------------------------------------------------------------------------------------------------------------
  REMARKS:
  
  INSTRUCTIONS:
   See the definition of "person" in paragraph (a) of Rule 144. Information is to
   be given not only as to the person for whose account the securities are to be
   sold but also as to all other persons included in that definition. In addition,
   information shall be given as to sales by all persons whose sales are required
   by paragraph (e) of Rule 144 to be aggregated with sales for the account of the
   person filing this notice.
                                    12/18/00
                      ----------------------------------------
                                  DATE OF NOTICE
  ATTENTION:
   The person for whose account the securities to which this notice relates are to
   be sold hereby represents by signing this notice that he does not know any
   material adverse information in regard to the current and prospective
   operations of the Issuer of the securities to be sold which has not been
   publicly disclosed.
                              /s/ S. EUGENE EDWARDS
                      ----------------------------------------
                                    (SIGNATURE)
                                  S. Eugene Edwards
  
  The notice shall be signed by the person for whose account the securities are
      to be sold. At least one copy of the notice shall be manually signed.
      Any copies not manually signed shall bear typed or printed signatures.
  
  --------------------------------------------------------------------------------
   ATTENTION: INTERNATIONAL MISSTATEMENTS OR OMISSION OF FACTS CONSTITUTE FEDERAL
                     CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
  --------------------------------------------------------------------------------
  
                                                                    SEC 1147(7-97)