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LyondellBasell Announces Plans to Exit Refining Business

4/22/2022

Press Release-LyondellBasell   HOUSTON, April 21, 2022 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today 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

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