LyondellBasell to sell former Houston refinery site to Valero for $320.5 million

LyondellBasell agreed on October 29, 2026, to sell Houston Refining, L.P. and the former Houston refinery site and related assets to a Valero Energy subsidiary for $320.5 million, with closing expected in the fourth quarter of 2026 subject to regulatory and customary conditions. The sale follows the February 2025 shutdown of refining operations; separately, LyondellBasell reported third-quarter net income of $758 million, or $2.32 per diluted share, and $1.7 billion in operating cash flow.