LyondellBasell (Rotterdam, the Netherlands) announced its decision to cease operation of its Houston Refinery no later than December 31, 2023. In the interim, the Company will continue serving the fuels market, which is expected to remain strong in the near-term, and consider potential transactions and alternatives for the site.
“After thoroughly analyzing our options, we have determined that exiting the refining business by the end of next year is the best strategic and financial path forward for the Company,” said Ken Lane, interim CEO of LyondellBasell. “These decisions are never easy and we understand this has a very real impact on our refinery employees, their families and the community. We are committed to supporting our people through this transition.”
Lane added, “While this was a difficult decision, our exit of the refining business advances the Company’s decarbonization goals, and the site’s prime location gives us more options for advancing our future strategic objectives, including circularity.”
LyondellBasell’s Houston Refinery has a rated capacity to transform 268,000 barrels per day of crude oil into transportation fuels and other products including lubricants, chemical intermediates and petroleum coke.
By Mary Page Bailey
Source: chemengonline.com
The Chemours Company (NYSE: CC), DuPont de Nemours, Inc. (NYSE: DD) and Corteva, Inc. (NYSE: CTVA) (the “companies”) today announced they have reached an agreement in principle to comprehensively resolve all PFAS-related drinking water claims of a defined class of public water systems that serve the vast majority of the United States population.
The quest to develop hydrogen as a clean energy source that could curb our dependence on fossil fuels may lead to an unexpected place — coal. A team of Penn State scientists found that coal may represent a potential way to store hydrogen gas, much like batteries store energy for future use, addressing a major hurdle in developing a clean energy supply chain.
WE Soda (London), a major producer of soda ash, said it intends to launch an IPO and apply to list its shares on the main market of the London Stock Exchange. The company, wholly owned by industrial conglomerate the Ciner Group (Istanbul, Turkey), said it is the world’s largest producer of natural soda ash.
