According to Reuters’ article published on October 29, 2022, chemicals maker Lyondell Basell Industries (LYB.N) plans to operate its Houston oil refinery above 90% of its 263,776-barrel-per-day (bpd) capacity in the fourth quarter of 2022, Kimberly Foley, executive vice president of intermediates, derivatives and refining, said at a conference call on Friday.
In slides accompanying the company's third-quarter earnings release, Lyondell said it is targeting a utilization rate of about 92%, or 242,674 bpd, in the fourth quarter for the Houston refinery, which it plans to permanently close by end-2023.
In the third quarter, the Houston refinery operated at an average of 82%, or 215,000 bpd, the company said in a filing to the U.S. Securities and Exchange Commission on Friday.
Production was cut back at the refinery due to maintenance work during the third quarter, Lyondell said in the filing.
Lyondell said on April 21 it planned to shut the refinery. Lyondell officials have said they planned to convert the site to recycling plastics as it looks to lower its carbon impact and create a "circular" business model for plastics production.
