Valero to Acquire Houston Refining Site, Plans 165,000 BPD Restart
Valero Energy has agreed to acquire a 100% equity stake in LYB Houston Hub Holdings LLC from LyondellBasell Industries for $320.5 million. The acquisition includes a 700-acre facility adjacent to Valero's existing Houston refinery, with plans to restart 165,000 barrels per day of light sweet crude processing capacity by late 2027. The deal also provides Valero with options to invest in heavy sour crude processing infrastructure, leveraging its existing expertise in processing discounted heavy crude grades.