LyondellBasell, a major chemical company, is shutting down its Houston refinery, leading to the layoff of over 400 employees. The closure comes amid declining demand for gasoline and refined petroleum products. LyondellBasell stated that the decision was made after a thorough review of its operations and market conditions. The company is committed to supporting its affected employees during the transition.
LyondellBasell, a major chemical company, is preparing to shut down its Houston refinery, leading to the layoff of over 400 employees. The closure, which comes amid declining demand for gasoline and refined petroleum products, is expected to have a significant impact on the local economy and the energy sector . LyondellBasell stated that the decision was made after a thorough review of its operations and market conditions.
The company emphasized that it is committed to supporting its affected employees during the transition, offering severance packages and outplacement services. The closure of the Houston refinery is part of a broader trend in the refining industry, with several companies facing challenges due to weak demand and increased competition. LyondellBasell said it would explore other options for its refining operations in the future, but it remains unclear what those options might be
LYONDELLEBASELL REFINERY HOUSTON LAYOFFS CHEMICAL INDUSTRY ENERGY SECTOR
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