LyondellBasell Industries No Longer Selling Houston Refinery

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LyondellBasell Industries NV is taking its Houston Refinery off the selling block after weighing several sales options in the past few months, according to a report in FuelFix. Shares drifted slightly lower intraday.

The company sees “tremendous value” in the refinery going forward, although an eventual sale in the more distant future could remain an option, spokesman Michael Waldron was cited as saying in the news report.

Rumored potential buyers of the refinery, which is valued at close to $1 billion or more, included Valero Energy, Suncor and Saudi Aramco, the news report added.

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