LyondellBasell Industries Sees Total Amount Of Costs To Incur For Planned Exit From Houston Refinery Business To Range From $610M-$980M
Portfolio Pulse from Benzinga Newsdesk
LyondellBasell Industries plans to exit its Houston refinery business, incurring costs between $610M-$980M. The exit involves asset retirement obligations and personnel costs. Additionally, a $252M goodwill impairment was recognized due to segment structure changes.
November 01, 2024 | 8:57 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
LyondellBasell Industries is exiting its Houston refinery business, with expected costs between $610M-$980M. This move includes significant asset retirement obligations and personnel costs. Additionally, a $252M goodwill impairment was recorded due to segment restructuring.
The planned exit from the Houston refinery business involves substantial costs, which could negatively impact LyondellBasell's short-term financial performance. The goodwill impairment further suggests financial adjustments that may affect investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100