With 550 positions impacted by the refinery closure, one market expert says the company's move was a calculated one.
HOUSTON, Texas -- The future plans of the LyondellBasell refinery in southeast Houston are up in the air after the company's announcement that it will close by the end of 2023.
LyondellBasell's announcement came days after they released their plan through 2030. In it, they announced goals to"help end plastic waste in the environment, address climate change and support a thriving society." McNulty said there is still significant demand for crude oil refined products, so he does not anticipate that other refineries in the area will follow suit in the short-term.
The LyondellBasell facility has the capacity to convert 268,000 barrels of crude oil a day into transportation fuel and other products.
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