U.S.-based Valero Energy Corporation has agreed to acquire LYB Houston Hub Holdings LLC, a subsidiary of LyondellBasell that indirectly owns the former Houston refinery site in Texas, United States. The transaction is valued at $320.5 million.
As part of the acquisition, Valero Energy plans to restart refining operations at the site, with a processing capacity of 165,000 barrels per day of light, sweet crude oil.
The company expects to resume operations by the end of 2027. The project represents a new step in Valero Energy’s growth strategy and could strengthen its refining capacity in the U.S. market.
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