Valero Energy is paying $320.5 million to purchase LyondellBasell’s mothballed refinery on the Houston Ship Channel, with plans to restart 165 Mb/d of light, sweet crude processing at the site by the end of 2027. The deal, announced on October 30, comes after years of U.S. refinery closures and highlights the Gulf Coast’s advantages as a refining hub. Restarting an idled plant takes money, time and a clear operating plan, and Valero’s approach figures to be one of the fastest ways to add a substantial block of refining capacity at an economically justifiable cost. In today’s RBN blog, we discuss what it all means for Valero and the U.S. refining outlook.
The Future of Fuels bi-annual report by RBN's Refined Fuels Analytics provides an in-depth analysis of the U.S. and global refinery industries, focusing on crude oil and fuel market dynamics, supply and demand, alternative fuels, refinery capacities, and price forecasts to help stakeholders navigate the evolving energy landscape.
LyondellBasell’s Houston refinery (see photo below) traces its roots to 1918, when Sinclair Refining Company, founded by oilman Harry Sinclair, acquired 710 acres along the Houston Ship Channel and began constructing the facility's first distillation units. Atlantic Richfield (ARCO) acquired Sinclair in 1969, and in 1985 formed Lyondell Chemical Company from a collection of refining and petrochemical assets, including the Houston refinery and its Channelview petrochemical complex. Lyondell became publicly traded in 1989, and ARCO subsequently divested its remaining ownership.
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About the song
“Still Not Dead” was written by Willie Nelson and Buddy Cannon. It appears as the eighth song on Willie Nelson’s 66th studio album, God’s Problem Child. The song was released as the final single from the album in April 2017. Nelson said he wrote the song in response to the constant rumors of his death at the age of 84 (he’s 93 now). “I got up two or three times in the last year to read in the paper that I’ve passed away. So, I just wanted to let ’em know that was a bunch of horse----.” In the hilarious video Nelson made for the song, he addresses this situation with scenes shot on his tour bus, in the studio, and in concert. Personnel on the record were: Willie Nelson (lead vocals, lead acoustic guitar), Barry Bales (bass), Fred Eltringham (drums, percussion), Jim “Moose” Brown (piano), Ben Haggard (electric guitar), and Mickey Raphael (harmonica, jaw harp).
God’s Problem Child was recorded in late 2016-early 2017 and released on Legacy Records in April 2017. Produced by Buddy Cannon, it went to #1 on the Billboard Hot Country and #10 on the Billboard 200 Albums charts. It received many positive reviews, with Record Collector giving it four stars, hailing Nelson as a “bona fide legend who has never sounded more alive.” Five singles were released from the LP.
Willie Nelson is an American singer, songwriter, musician, actor, author and political activist. He was one of the founders of the outlaw country music scene. He started working as a singer and songwriter in the late fifties, securing his first publishing deal with Pamper Music in Nashville in 1960. During that time, he wrote songs that would become country standards, including “Funny How Time Slips Away,” “Crazy,” and “Hello Walls.” He released his debut album, ... And Then I Wrote, in 1962. He has released 103 studio albums, 14 live albums, 51 compilation albums, two soundtrack albums, and 132 singles. He has sold over 150 million records worldwide. He has won eight American Music Awards, five ACM Awards, 10 CMA Awards,15 Grammy Awards, and is the recipient of Kennedy Center Honors, and a Gershwin Prize. He is a member of the Country Music Hall of Fame, the Rock and Roll Hall of Fame, and the Agricultural Hall of Fame. Nelson has appeared in over 30 films and co-authored several books. He will release his book, The Last Leaf: Reflections on Late-Life Creativity and My Longest Love Affair, in November. He recently appeared as a headlining act at Farm Aid 2026 in September, and will be appearing next as a headliner at the Stagecoach Festival in Indio, CA, in April 2027.
"About the Song" -- written by Mickey McMahan , RBN Director of Musicology
