HOUSTON – LyondellBasell introduced on Thursday that they are ending the procedure of its Houston refinery no later on than Dec. 31, 2023.
The company stated, in the interim, the enterprise will continue serving the fuels market, which is predicted to continue to be solid in the near time period, and think about likely transactions and alternatives for the web page.
“Right after completely examining our alternatives, we have identified that exiting the refining enterprise by the end of following calendar year is the ideal strategic and financial route ahead for the Organization,” said Ken Lane, interim CEO of LyondellBasell. “These conclusions are never ever effortless, and we have an understanding of this has a really real effect on our refinery staff, their people and the local community. We are fully commited to supporting our individuals through this transition.”
LyondellBasell’s Houston Refinery has a rated ability to rework 268,000 barrels for every day of crude oil into transportation fuels and other products and solutions including lubricants, chemical intermediates and petroleum coke.
Lane extra, “When this was a tricky conclusion, our exit of the refining enterprise advances the Company’s decarbonization objectives, and the site’s prime locale provides us additional choices for advancing our long term strategic aims, which include circularity.”