Valero Plans Houston Refinery Restart Following $320.5M Acquisition Agreement
The proposed purchase would bring an adjoining 700-acre industrial property into Valero’s Houston operations.
Valero has agreed to purchase LyondellBasell’s former Houston refinery property for $320.5 million, setting out plans to restore a substantial portion of processing capacity by the end of 2027.
The approximately 700-acre site sits alongside Valero’s existing Houston refinery on the Houston Ship Channel.
Valero is targeting approximately 165,000 barrels per day of light, sweet crude processing capacity, giving the transaction a defined operating objective beyond the acquisition of industrial land.
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