Valero Energy Unit to Acquire LYB Houston Hub Holdings for $320.5 Million

07:00 AM EDT, 10/30/2026 (MT Newswires) -- Valero Energy's (VLO) Valero Refining-Texas unit signed a definitive deal to acquire LYB Houston Hub Holdings from a LyondellBasell Industries (LYB) subsidiary for $320.5 million, according to a Friday statement. LYB Houston indirectly owns a facility of about 700 acres that operated as a petroleum refinery, Valero said. This facility is adjacent to Valero's Houston refinery and presents an expansion opportunity, the company added. The company said it also sees an opportunity to invest later in high-complexity processing capacity for heavy sour crude. The transaction is expected to close by the end of 2026, and Valero said it plans to initially restart 165,000 barrels per day of light sweet crude processing capacity at the facility by the end of 2027.