LyondellBasell Announces Oct. 30 Sale of Its Former Houston Refinery Site to Valero for $320.5 Million; Closing Expected in Q4 2026
LyondellBasell announced on October 30 that it has agreed to sell its former Houston refinery site and related assets to Valero Refining-Texas, a wholly owned subsidiary of Valero Energy, for a total purchase price of $320.5 million. Having decided to exit the refining business, the company said it evaluated multiple options and concluded a sale best advances its strategic priorities, as part of an ongoing portfolio transformation toward businesses with the strongest strategic fit and long-term value creation.
Under the agreement, Valero will assume responsibility for the site's ongoing operations, environmental obligations, pension costs and related employee obligations. The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals and customary closing conditions. LyondellBasell is headquartered in Houston and London.
Source: GSM · USA (original Chinese edition)
Photo: 图：休斯顿航道炼油厂。Astronaut photograph ISS012-E-9567 were acquired November 28, 2005, with a Kodak 摄，Public domain，经 Wikimedia Commons。 / A refinery on the Houston Ship Channel. Photo by Astronaut photograph ISS012-E-9567 were acquired November 28, 2005, with a Kodak, Public domain, via Wikimedia Commons.
