Valero Energy Corp 8-K, filed Oct 30, 2026
Valero Energy Corp (VLO)
8-K
2026-10-30
For: 2026-10-29
View Original
Added on
October 30, 2026
About this 8-K
Valero Energy Corp filed this 8-K on October 30, 2026, reporting on events of October 29, 2026.
Valero Energy Corporation agreed to acquire LYB Houston Hub Holdings LLC from a subsidiary of LyondellBasell Industries N.V. for $320.5 million, subject to closing adjustments. Closing is expected by the end of 2026, with an initial 165,000 BPD light sweet crude processing restart by year-end 2027. AI summary
Items reported
- Item 7.01: Regulation FD disclosure
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 29, 2026
VALERO ENERGY CORPORATION
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (210 ) 345-2000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
par value $0.01 per share | ||||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01Regulation FD Disclosure.
On October 30, 2026, Valero Energy Corporation (the “Company”) issued a press release announcing the execution of a definitive agreement with a subsidiary of LyondellBasell Industries N.V. (“LyondellBasell”) to acquire its approximately 700-acre facility adjacent to the Company’s Houston refinery on the Houston Ship Channel in Texas that operated as a petroleum refinery. A copy of the press release is furnished with this report as Exhibit 99.01 and is incorporated by reference into this Item 7.01.
The Company also prepared a presentation related to the transaction, which will be posted on its Investor Relations website at investorvalero.com. A copy of the presentation is furnished with this report as Exhibit 99.02 and is incorporated by reference into this Item 7.01.
The information in Items 7.01 and 9.01 of this current report on Form 8-K is being furnished, not “filed,” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, unless specifically identified in such filing as being incorporated by reference in such filing. The furnishing of the information in Items 7.01 and 9.01 of this current report on Form 8-K is not intended to, and does not, constitute a determination or admission by the Company that such information is material or complete, or that investors should consider such information before making an investment or voting decision with respect to any security of the Company or any of its affiliates.
Item 8.01Other Events.
On October 29, 2026, Valero Refining-Texas, L.P., a wholly owned subsidiary of the Company, entered into a definitive agreement to acquire all the outstanding equity interests of LYB Houston Hub Holdings LLC (“LYB Houston”) from a subsidiary of LyondellBasell for a purchase price of $320.5 million, subject to closing adjustments. Closing of the transaction is subject to customary closing conditions, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and is expected to occur by the end of 2026. LYB Houston indirectly owns an approximately 700-acre facility adjacent to the Company’s Houston refinery on the Houston Ship Channel in Texas that operated as a petroleum refinery.
Safe Harbor Statement
Statements contained in this current report on Form 8-K and Exhibit 99.01 and Exhibit 99.02 attached hereto that state the Company’s or its management’s expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act and the Exchange Act. The forward-looking statements in this current report on Form 8-K and Exhibit 99.01 and Exhibit 99.02 attached hereto include statements regarding the expected completion of the acquisition, the expected financial return of the acquisition and any
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investment, the potential resumption of refining operations at the facility and future investment, and the impact of any such resumption and investment on the Company’s business or financial performance. It is important to note that actual results could differ materially from those projected in such forward-looking statements based on numerous factors, including those outside of the Company’s control. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see the Company’s annual report on Form 10-K, quarterly reports on Form 10-Q, and other reports filed with the Securities and Exchange Commission. References to website URLs in this current report on Form 8-K are intended to be inactive textual references only.
Item 9.01Financial Statements and Exhibits.
(d)Exhibits.
| Exhibit No. | Description | |||||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL). | |||||||
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
VALERO ENERGY CORPORATION (Registrant) | |||||||||||
| Date: | October 30, 2026 | By: | /s/ Homer S. Bhullar | ||||||||
| Homer S. Bhullar | |||||||||||
| Senior Vice President and | |||||||||||
| Chief Financial Officer | |||||||||||
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Exhibit 99.01
Valero to Acquire Former Houston Refinery from LyondellBasell
•Plans to Restart 165,000 BPD of Throughput Capacity by Year-End 2027
•Opportunity to Invest in High-Complexity, Heavy Sour Crude Processing
SAN ANTONIO, October 30, 2026 – Valero Energy Corporation (NYSE: VLO, “Valero”) announced today that its wholly owned subsidiary, Valero Refining-Texas, L.P., entered into a definitive agreement to acquire all the outstanding equity interests of LYB Houston Hub Holdings LLC (“LYB Houston”) from a subsidiary of LyondellBasell Industries N.V. (“Lyondell”) for a purchase price of $320.5 million, subject to closing adjustments. Closing of the transaction is subject to customary closing conditions, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and is expected to occur by the end of 2026. LYB Houston indirectly owns an approximately 700-acre facility adjacent to Valero’s Houston refinery on the Houston Ship Channel in Texas that operated as a petroleum refinery. Valero currently expects to initially restart 165,000 BPD of light sweet crude processing capacity by year-end 2027. The acquisition also provides the opportunity to later invest in high-complexity, heavy sour crude processing.
“This acquisition is a unique opportunity to strategically expand Valero’s U.S. Gulf Coast footprint at a fraction of replacement value and enhance the long-term strength of our refining system,” said Lane Riggs, Chairman, CEO and President of Valero. “It is expected to provide a compelling financial return, consistent with Valero’s disciplined capital allocation framework, while generating attractive commercial optimization opportunities and supporting future investment in high-complexity, heavy sour crude oil processing.”
Valero has prepared a presentation related to the transaction, which will be posted on its Investor Relations website and furnished as an exhibit in a Current Report on Form 8-K.
About Valero
Valero Energy Corporation, through its subsidiaries (collectively, Valero), is a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, and sells its products primarily in the United States (U.S.), Canada, the United Kingdom (U.K.), Ireland, and Latin America. Valero operates 14 petroleum refineries
located in the U.S., Canada, and the U.K. with a combined throughput capacity of approximately 3.0 million barrels per day. Valero is a joint venture member in Diamond Green Diesel Holdings LLC, which produces low-carbon fuels including renewable diesel and sustainable aviation fuel (SAF), with a production capacity of approximately 1.2 billion gallons per year in the U.S. Gulf Coast region. See the annual report on Form 10-K for more information on SAF. Valero also owns 12 ethanol plants located in the U.S. Mid-Continent region with a combined production capacity of approximately 1.7 billion gallons per year. Valero manages its operations through its Refining, Renewable Diesel, and Ethanol segments. Please visit investorvalero.com for more information.
Valero Contacts
Investors:
Brian Donovan, Vice President – Investor Relations, 210-345-1682
Eric Herbort, Director – Investor Relations and Finance, 210-345-3331
Gautam Srivastava, Director – Investor Relations, 210-345-3992
Media:
Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002
Safe-Harbor Statement
Statements contained in this release that state Valero’s or management’s expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words “believe,” “expect,” “should,” “estimates,” “intend,” “target,” “commitment,” “opportunity,” “plans,” “forecast,” “guidance” and other similar expressions identify forward-looking statements. Forward-looking statements in this release include statements regarding the expected completion of the acquisition, the expected financial return of the acquisition and any investment, the potential resumption of refining operations at the facility and future investment, and the impact of any such resumption and investment on Valero’s business or financial performance. It is important to note that actual results could differ materially from those projected in such forward-looking statements based on numerous factors, including those outside of Valero’s control, such as legislative or political changes or developments, market dynamics, cyberattacks, weather events, and other matters affecting Valero’s operations and financial performance or the demand for Valero’s products. These factors also include, but are not limited to, the uncertainties that remain with respect to current or contemplated legal, political, or regulatory developments that are adverse to tariffs, global geopolitical and other conflicts and
tensions, the impact of inflation and crude oil and petroleum product market disruptions on margins and costs, economic activity levels, actions in response to supply and demand imbalances for refined petroleum products, and the adverse effects the foregoing may have on Valero’s business plan, strategy, operations and financial performance. For more information concerning these and other factors that could cause actual results to differ from those expressed or forecasted, see Valero’s annual report on Form 10-K, quarterly reports on Form 10‑Q, and other reports filed with the Securities and Exchange Commission and available on Valero’s website at www.valero.com.
