LyondellBasell sells Houston refinery site to Valero for $320.5M, focusing on core business strategy.

LyondellBasell has agreed to sell its former Houston Refinery site and related assets to Valero Refining-Texas, a subsidiary of Valero Energy, for $320.5 million. This sale is part of LyondellBasell's strategy to focus on core businesses and improve long-term value by divesting non-core assets. Valero will take over site operations, environmental liabilities, and employee obligations, ensuring continued employment for the workforce. The transaction is expected to close in Q4 2026, pending regulatory approvals.

As of Oct 30, 2026 17:32 WIB, LyondellBasell (LYB) trades at USD 65.05, closer to its 52-week low of USD 42.28 than its high of USD 82.38, with a 1-day decline of 0.49%. In contrast, Valero Energy (VLO) is priced at USD 388.57, well above its 52-week low of USD 161.94 but below its high of USD 459.78, showing a 1-day gain of 1.04%. Despite LYB's full buy interest on Pluang, VLO sees predominantly sell orders at 98%, reflecting differing investor sentiment as the companies finalize this asset transaction.