At a time when gas prices are near all-time highs, the owner of one of the oldest refineries in the region says it is set to close the facility.
At a time when gas prices are near all-time highs, the owner of one of the oldest refineries inLyondellBasell announces plans to close Houston refinery
The company says it can't afford to wait any longer. The mid-sized Houston refinery can process 263,000 barrels of crude oil, daily, into fuels and petroleum products. About 500 people are employed at the 700-acres site. In a statement announcing the company's exit from the refining business, interim CEO Ken Lane said:
"This is the third refinery on the Gulf Coast that is being shut in the last couple of years," he explained. Industry leaders are putting more emphasis on domestic oil production rather than relying on foreign countries to heat our homes and fill up our gas tanks. World events have helped push oil prices above $100 a barrel, which refiners that don't produce their own oil, like LyondellBasell, have to buy on the open market. It also leaves a thin financial margin in an environment that is less and less tolerant of fossil fuels.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Don't expect other Houston refineries to follow in LyondellBasell's footsteps, one expert saysWith 550 positions impacted by the refinery closure, one market expert says the company's move was a calculated one.
Les mer »
LyondellBasell plans to close its Houston refineryLyondellBasell, the multinational chemical company with U.S. headquarters in Houston, is getting out of the refining business, it said Thursday. The company plans to close its Houston refinery, which employs about 550 people, by Dec. 31 of next year.
Les mer »
LyondellBasell announces plans to close Houston refinery'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,' said Ken Lane, interim CEO of LyondellBasell.
Les mer »
AccuWeather: Partly SunnyMeteorologist Chris Sowers says it's a dry, comfortable weekend.
Les mer »
Why 'Russian Doll’ star Natasha Lyonne plays four hours of word games a dayIt often seems like everyone plays the five-letter word guessing game and its multiple spin-offs. 'Russian Doll' star Natasha Lyonne can officially be added to that long list of names.
Les mer »