LyondellBasell May Want to Sell Houston Refinery Amid U.S. Action in Venezuela -- Market Talk

Dow Jones01-06

0848 ET - LyondellBasell idled its Houston refinery designed to process heavy Venezuelan crude less than a year ago, but with the U.S. seeking to gain control of Venezuela's reserves, it could find value selling it to another company, say Mizuho analysts. LyondellBasell has discussed using some of the refinery's assets to convert waste plastic to oil or for a clean-hydrogen site, "but both circular plastics and clean hydrogen projects are being delayed," the analysts say. "Perhaps the site could have more value for another company to reinvest and restart as a refinery." The site is over 100 years old, complicating a transaction, but LyondellBasell could be a motivated seller, the analysts say. (nicholas.miller@wsj.com)

(END) Dow Jones Newswires

January 06, 2026 08:48 ET (13:48 GMT)

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LyondellBasell has discussed using some of the refinery's assets to convert waste plastic to oil or for a clean-hydrogen site, \"but both circular plastics and clean hydrogen projects are being delayed,\" the analysts say. \"Perhaps the site could have more value for another company to reinvest and restart as a refinery.\" The site is over 100 years old, complicating a transaction, but LyondellBasell could be a motivated seller, the analysts say. 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LyondellBasell has discussed using some of the refinery's assets to convert waste plastic to oil or for a clean-hydrogen site, \"but both circular plastics and clean hydrogen projects are being delayed,\" the analysts say. \"Perhaps the site could have more value for another company to reinvest and restart as a refinery.\" The site is over 100 years old, complicating a transaction, but LyondellBasell could be a motivated seller, the analysts say. 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