Valero to Acquire Former Houston Refinery from LyondellBasell
Business Wire•30/10/2026•06:25 ET
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Key Highlights
- ➤Valero to acquire LYB Houston from Lyondell for $320.5 million, subject to closing adjustments
- ➤Transaction expected to close by end of 2026, pending customary conditions and antitrust review
- ➤Valero plans to restart 165,000 BPD of light sweet crude capacity by year-end 2027
- ➤Acquisition adds opportunity for future high-complexity, heavy sour crude processing investment
Expert Statements
Lane Riggs, Chairman, CEO and President of Valero
“This acquisition is a unique opportunity to strategically expand Valero’s U.S. Gulf Coast footprint at a fraction of replacement value and enhance the long-term strength of our refining system.”
Lane Riggs, Chairman, CEO and President of Valero
“It is expected to provide a compelling financial return, consistent with Valero’s disciplined capital allocation framework, while generating attractive commercial optimization opportunities and supporting future investment in high-complexity, heavy sour crude oil processing.”
Valero to Acquire Former Houston Refinery from LyondellBasell
Plans to Restart 165,000 BPD of Throughput Capacity by Year-End 2027
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