LyondellBasell to exit refining business by end 2023

LyondellBasell Industries NV will cease operation of its Houston refinery no later than Dec. 31, 2023 and will consider potential transactions and alternatives for the site.

In the interim, and before exiting the refining business to advance the company’s decarbonization goals, the company will continue serving the fuels market, which is expected to remain strong in the near-term, it said in a release Apr. 21.

LyondellBasell subsidiary Houston Refining LP’s 268,000-b/d full-conversion refinery on the Houston Ship Channel transforms crude oil into transportation fuels and other products including lubricants, chemical intermediates, and petroleum coke.

In September 2021, LyondellBasell said it was considering strategic options for the refinery, including a potential sale (OGJ Online, Sept. 20, 2021).