AlwaysFree: Houston Refinery Sale In “Coming Quarter Or Two,” LyondellBasell CEO Says

LyondellBasell CEO Bob Patel said on Friday that his company expected to sell a refinery on the Houston Ship Channel in the “coming quarter or two.” The company attempted to sell the refinery in 2016 but was stymied by fires and shutdowns of multiple units. In September, LyondellBasell said it was mulling strategic options for the facility, including a sale. The 263,776 bpd refinery ran at 99% of capacity in the third quarter of 2021, an increase of 12,000 bpd from the prior quarter. LyondellBasell said the plant generated operating income of $25 million in the quarter, up from a $95 million loss in the preceding three-month period.