LyondellBasell Plans to Retain Houston Refinery After Asset Review
LyondellBasell said on Thursday that it would retain its Houston-area refinery following a review of strategic options for the business. "During the normal course of business it is not unusual for a company to periodically review its asset portfolio," said Michael Waldron, vice president of corporate communications for LyondellBasell. The refinery has the ability to process 264,000 barrels a day of crude. (Reporting By Jessica Resnick-Ault)
Lyondell's Houston Refinery Draws Bids from Aramco, Valero, Sunco
At least three firms including Saudi Arabian state oil giant Saudi Aramco have bid over $1 billion for LyondellBasell Industries NV's refinery in Houston, according to four people familiar with the process. The Saudi firm was initially seen as the front-runner among bidders that also included Valero Energy Corp and Suncor Inc, sources said, but added it is unclear if that is still the case. Aramco has bid $1.5 billion for the plant, after an initial bid of $1.2 billion, three sources said. Aramco may be looking to boost its U.S.
