Lyondellbasell Industries Said In Connection With Planned Exit From Houston Refinery Business, Recorded Liabilities Of $262M As Of March 31, 2024; Estimate That Houston Refinery's Asset Retirement Obligations Are In The Range Of $150M To $450M
Portfolio Pulse from Benzinga Newsdesk
LyondellBasell Industries plans to exit its Houston refinery business, recording liabilities of $262M as of March 31, 2024. The estimated asset retirement obligations for the Houston refinery range from $150M to $450M, according to an SEC filing.
April 26, 2024 | 6:02 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
LyondellBasell Industries records $262M in liabilities due to its planned exit from the Houston refinery business, with asset retirement obligations estimated between $150M and $450M.
Exiting the Houston refinery business and the associated financial liabilities and obligations are likely to have a negative short-term impact on LyondellBasell's stock price. The substantial financial burden disclosed could concern investors about future profitability and cash flows, leading to potential downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100