Market Flux Event
Valero Agrees to Buy Former LyondellBasell Houston Refinery Site for $320.5 Million
Read this in the Market Flux appValero Energy Corporation announced Friday that its wholly owned subsidiary, Valero Refining-Texas, L.P., has entered into a definitive agreement to acquire all outstanding equity interests of LYB Houston Hub Holdings LLC from a subsidiary of LyondellBasell Industries N.V. for $320.5 million, subject to closing adjustments. The transaction is subject to customary closing conditions.
The deal marks Valero's purchase of the former Houston refinery site, which LyondellBasell had previously shuttered. The announcement came on the same day LyondellBasell reported its third-quarter 2026 results, posting net income of $758 million and adjusted diluted earnings per share of $2.54. Shares of LyondellBasell fell 2.62% in regular-session trading on October 30 as both developments were absorbed by the market.
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Sources
- Business WireValero to Acquire Former Houston Refinery from LyondellBasell
- LiveSquawkLyondellBasell Agrees To Sell Former Refinery Site In Houston To Valero
- Seeking AlphaValero to buy former Houston refinery site from LyondellBasell in $320M deal
- NasdaqValero To Acquire Former Houston Refinery Site From LyondellBasell For $320.5 Mln
- TomKlozaValero is buying the mothballed Lyondell refinery in Houston and today said they will restart the facility and process about 167,000 b/d of crude and feedstock sometime in 2027. Not on most traders' bingo cards for sure.
- StaunovoLyondellBasell agrees to sell former refinery site in Houston #oott
- GasBuddyGuyWoah: LyondellBasell has sold its shut-down refinery in Houston to Valero... could Valero get this refinery back online in the next 6-12 months? capacity is ~165,000bpd and its in a pretty good location.