Lyondell CEO Hints of Possible Shift to Renewable Fuel Production in Houston -- OPIS

Dow Jones05-01

LyondellBasell on Tuesday appeared to keep the door open for continuing some operations at its 264,000 b/d Houston refinery beyond the first quarter of 2025.

In a call to discuss the company's Q1 financial results, Chief Executive Peter Vanacker said Lyondell is considering converting some of hydrotreating equipment at the refinery to supplement petrochemical output at the site after the facility stops processing crude oil sometime at the end of March.

"We are evaluating options for the potential reuse of the hydrotreaters at our Houston refinery to purify recycled and renewable cracker feedstock," he said.

That may also mean the plant may at some point be capable of producing renewable diesel or renewable naphtha.

Previous statements from company officials have suggested Lyondell is hoping to extract some value from the refinery before it stops making gasoline and diesel. Some refinery sources questioned whether it's possible to complete the conversion work before the end of Q1 2025, adding that the refinery has likely done well given strong margins for gasoline, diesel and jet fuel.

Lyondell officials did not say whether they have begun to examine which alternative feedstocks could be secured for the plant.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.

--Reporting by Tom Kloza, tkloza@opisnet.com; Editing by Jeff Barber, jbarber@opisnet.com

(END) Dow Jones Newswires

April 30, 2024 17:13 ET (21:13 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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