Sign Up for FREE Daily Energy News
Canadian Flag CDN NEWS  |  US Flag US NEWS  | TIMELY. FOCUSED. RELEVANT. FREE
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • youtube2
BREAKING NEWS:

Vista Projects
Copper Tip Energy Services
Copper Tip Energy
Vista Projects


LyondellBasell considers sale of Houston refinery


English Español 简体中文 हिन्दी Português
These translations are done via Google Translate
Sept 8 (Reuters) – LyondellBasell (LYB.N) said on Wednesday it was considering strategic options for its Gulf Coast-based Houston refinery, including a potential sale.

The refinery, under LyondellBasell’s ownership since 2006, is one of the largest in the United States, with capacity to transform 268,000 barrels per day of crude oil into transportation fuels.

“While the Houston Refinery is a valuable, well-performing asset, we have long held the belief that it may be even more valuable as part of a larger refining system,” Chief Executive Bob Patel said.

Following a merger with Basell in 2007 and emergence from bankruptcy in 2012, LyondellBasell expanded chemical production plants around the world, making the oil refinery secondary to its petrochemical business. (https://reut.rs/3hbtJV4)

EnergyNow Stand Out 2023 Promo
GLJ

LyondellBasell said in a statement it cannot provide assurances regarding the outcome or timing of the review process.

Bank of America is acting as a financial adviser to LyondellBasell and Vinson & Elkins the legal counsel for the process.



Share This:



More News Articles


GET ENERGYNOW’S DAILY EMAIL FOR FREE