Valero to buy former LyondellBasell refinery site in Houston
LYB•Valero agreed to buy a former LyondellBasell refinery site in Houston for $320.5 million. It plans to restart 165,000 barrels per day of light sweet crude processing capacity there by the end of 2027.
1. Refinery site deal
Valero Energy said its unit, Valero Refining-Texas, agreed to acquire the former Houston refinery site owned by a LyondellBasell Industries subsidiary for $320.5 million. The transaction is expected to close by the end of 2026.
2. Planned capacity
Valero plans to restart 165,000 barrels per day of light sweet crude processing capacity at the site by the end of 2027. The company said the acquisition would expand its U.S. Gulf Coast refining footprint and offer a later opportunity to invest in high-complexity units capable of processing heavy sour crude.
3. Site history
The approximately 700-acre facility is adjacent to Valero's Houston refinery on the Houston Ship Channel. It previously housed LyondellBasell Industries' 263,776-barrel-per-day refinery, which was permanently shut in February 2025.
