Reported 24 days ago
LyondellBasell Industries has announced the permanent closure of its Houston oil refinery, which processes 263,776 barrels of oil per day, starting in early 2025. This decision is part of a broader trend of refinery closures in the US as declining motor fuel demand is driven by the rise of renewable fuels and electric vehicles. The announcement follows recent plans from other US refiners to close or review additional facilities, highlighting the ongoing challenges faced by the oil refining industry.
Source: YAHOO