Valero Energy

Valero to acquire LyondellBasell's Houston refinery for $320.5M, plans 165k BPD restart by end-2027.

Valero announced acquisition of a 700-acre Houston Ship Channel facility from LyondellBasell for $320.5 million, with closing expected by end-2026. The company plans to restart 165,000 barrels per day of light sweet crude processing capacity by year-end 2027 and retain optionality to invest in high-complexity heavy sour crude processing. The transaction is framed as value-accretive, in-line with disciplined capital allocation, and strategically expands Gulf Coast footprint at a fraction of replacement cost.

Valero Energy Corporation is one of the largest petroleum refining and marketing companies in the world, operating refineries, renewable diesel plants, and ethanol facilities across multiple regions. The company converts crude oil and other feedstocks into transportation fuels, petrochemicals, and low-carbon fuels including renewable diesel and sustainable aviation fuel. Its three operating segments are Refining, Renewable Diesel, and Ethanol.

Primary products

• gasoline
• diesel
• jet fuel
• petrochemicals
• renewable diesel
• sustainable aviation fuel (SAF)