U.S. Refinery Closures, Conversions Continue

April 25, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--LyondellBasell Industries NV (NYSE:LYB) (Rotterdam, Netherlands) plans to shut its Houston Refinery in Texas, one of the largest in the U.S., in an effort to exit its refining business--continuing a pattern of recent domestic refinery closures and conversions to renewable fuel production.

Refinery closings have taken 3 million barrels per day from the global market since January 2020, including 1 million barrels a day in the U.S, according to the industry trade group American Fuel & Petrochemical Manufacturers. These include facilities owned by Marathon Petroleum Corporation (NYSE: MPC), Shell plc (NYSE:SHEL) and Phillips 66 (NYSE:PSX).