According to Reuters article published on May 10, 2023, chemical maker Lyondell Basell Industries (LYB.N) said it has not sought additional bids for its Houston refinery, which the company plans to permanently close by year-end.
"We are focused on 'creating solutions for everyday sustainable living,'" Lyondell said in a statement late Tuesday. "This purpose is aligned with our strategy to create profitable circular and low carbon solutions business opportunities. As such, we have not requested additional bid requests for our Houston refining site."
On Monday, Reuters reported the company had asked New York-based private equity firm Silverpeak to resubmit a bid for the Houston refinery. Lyondell did not respond to a request for comment before the report was published.
Lyondell officials have said that after the closure the refinery site along the Houston Ship Channel could be converted into a plant that would be part of a production chain for recycled plastics.
"Lyondell Basell is excited about the future possibilities for renewable and recycled feedstocks as well as a potential hydrogen consortium with others," the company said on Tuesday.
"We believe the Houston refining site is valuable due to its location in a leading global petrochemical hub with great logistics connectivity to existing assets."
Lyondell announced in April 2022 that it planned to close the refinery by the end of the year after failing to find a buyer for the plant.
Lyondell has said the refinery no longer fits with the company's global chemical production system.
