Valero to Buy Former LyondellBasell Houston Refinery for USD 320.5 Million

· Lubricants & Chemicals · United States

Valero Energy Corporation has agreed to buy the former LyondellBasell refinery site in Houston, Texas, for USD 320.5 million. The company expects to restart 165,000 barrels per day of light sweet crude processing capacity there by the end of 2027, according to an announcement in October. The purchase returns refining capacity at the site to service after LyondellBasell ceased operations there, and it adds to Valero's Gulf Coast footprint. Restarting the plant would bring a substantial volume of refined product supply back into the U.S. market over the next few years, a development with implications for fuel and feedstock flows in the region.

Why it matters：Restarting 165,000 bpd of capacity signals a bet on long-term refining margins and tight product supply, influencing feedstock and fuel balances that underpin base-oil and lubricant production economics.

Key points

  • Purchase price is USD 320.5 million for the Houston site.
  • Valero targets restart of 165,000 bpd light sweet crude capacity by end-2027.
  • The site is the former LyondellBasell refinery.

Sources (original reporting)

More stories from this day