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
Trinseo (NYSE: TSE), a specialty material solutions provider, announced it has initiated an information and consultation process with the Works Council of Trinseo Deutschland GmbH regarding the potential closure of its styrene monomer production site in Boehlen, Germany.
H.B. Fuller Company announced that Celeste Mastin, Executive Vice President and Chief Operating Officer, will succeed Jim Owens as H.B. Fuller’s President and Chief Executive Officer, effective December 4, 2022. Upon assuming the role, Mastin will also join the Company’s Board of Directors, replacing Owens, who will be retiring.
New LyondellBasell CEO Peter Vanacker, who joined the company from Neste in May, today named his senior executive team and outlined organizational changes, including creation of a circular and low-carbon solutions business. All changes will be effective 1 October.
