Valero agrees to buy former LyondellBasell Houston refinery for $320.5 million
VLO•Valero agreed to acquire all equity interests in LYB Houston Hub Holdings from LyondellBasell for $320.5 million, subject to closing adjustments. The former refinery is expected to restart with 165,000 barrels per day of light sweet crude processing capacity by year-end 2027.
1. Acquisition and restart plans
Valero agreed to acquire all equity interests in LYB Houston Hub Holdings from LyondellBasell for $320.5 million, subject to closing adjustments, with closing expected by the end of 2026. The target indirectly owns a roughly 700-acre former refinery adjacent to Valero's Houston refinery on the Houston Ship Channel. Initial restart plans target 165,000 barrels per day of light sweet crude processing capacity by year-end 2027, with an opportunity for future investment in high-complexity, heavy sour crude processing.
