LyondellBasell To Explore Strategic Options For Refining Segment - Quick Facts

(RTTNews) - LyondellBasell (LYB) said the company is weighing strategic options for its Refining Segment, including a potential sale. The company is actively gauging market interest in this business with the goal of delivering the greatest value to stakeholders.

"While the Houston Refinery is a valuable, well-performing asset, we have long held the belief that it may be even more valuable as part of a larger refining system," said Bob Patel, CEO of LyondellBasell.

LyondellBasell's Houston Refinery is one of the largest refineries in the U.S., with a rated capacity to transform 268,000 barrels per day of crude oil. It is strategically located on the Houston Ship Channel and covers approximately 700 acres.