LyondellBasell plans to cease operations at its refinery in Houston, TX, USA, no later than December 31, 2023. In the meantime, the company will continue to serve the fuel market and explore potential transactions and alternatives for the site. The exit from the refining business is intended to advance the company’s decarbonization goals.
The Houston refinery is one of the largest refineries designed to process heavy, high-sulfur crude oil and has a rated capacity to convert 268,000 barrels of crude oil per day into transportation fuels and other products such as lubricants, chemical intermediates, and petroleum coke. In the past ten years, Lyondell has twice mounted efforts to sell the refinery but failed to conclude a deal.
The company stresses that this decision is not easy and they are aware that this has a very real impact on refinery employees, their families, and the community. The company promises to support employees during the transition.
- LyondellBasell, Rotterdam, the Netherlands