UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT


     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


       Date of Report (Date of earliest event reported): October 29, 2003


                                   VALERO L.P.
             (Exact name of registrant as specified in its charter)

           Delaware                       1-16417                74-2956831
 (State or other jurisdiction    (Commission File Number)       (IRS Employer
       of incorporation)                                     Identification No.)

               One Valero Place
              San Antonio, Texas                                   78212
   (Address of principal executive offices)                     (Zip Code)


       Registrant's telephone number, including area code: (210) 370-2000

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Item 7.  Financial Statements and Exhibits.

         (c) Exhibits.

         99.1     Press Release dated October 29, 2003.


Item 12. Results of Operations and Financial Condition.

On October 29, 2003,  Valero L.P.  (the  "Partnership")  issued a press  release
announcing financial results for the quarter ended September 30, 2003. A copy of
the press  release  is  furnished  with  this  report as  Exhibit  99.1,  and is
incorporated herein by reference.  The press release discloses certain financial
measures  (EBITDA  and  distributable  cash  flow) that are  non-GAAP  financial
measures  as  defined   under  SEC  rules.   The  press   release   furnishes  a
reconciliation  of these  non-GAAP  financial  measures  to their  nearest  GAAP
financial  measures.  Reasons  for  the  Partnership's  use  of  these  non-GAAP
financial measures are disclosed in the Partnership's annual report on Form 10-K
for the year ended December 31, 2002, under the caption "Item 6.
Selected Financial Data."

The information in this report is being furnished,  not filed,  pursuant to Item
12 of Form 8-K. Accordingly,  the information in Item 12 of this report will not
be  incorporated  by  reference  into any  registration  statement  filed by the
Partnership  under the Securities Act of 1933, as amended,  unless  specifically
identified therein as being incorporated therein by reference.





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                                    SIGNATURE

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.



                                    VALERO L.P.

                                    By:   Riverwalk Logistics, L.P.
                                          its general partner

                                          By:     Valero GP, LLC
                                                  its general partner



Date: November 3, 2003                            By:     /s/Bradley C. Barron
                                                       -------------------------
                                                  Name:      Bradley C. Barron
                                                  Title:     Corporate Secretary



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                                  EXHIBIT INDEX

         Number   Exhibit

         99.1     Press Release dated October 29, 2003.




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