U.S. refining capacity could take a hit from an earlier than planned closure of a major refinery in Houston, which could worsen the refining and fuel crunch in the country. LyondellBasell—which announced in April that it would cease operation of its Houston Refinery by the end of 2023—could close the facility prematurely if a major equipment failure affects processing units, two sources with knowledge of the chemicals giant’s operations told Reuters on Tuesday. LyondellBasell’s 268,000-bpd Houston refinery has the ability to transform very heavy high-sulfur crude oil into clean fuels, including reformulated gasoline and low-sulfur diesel. Other products include heating oil, jet fuel, olefins feedstocks, aromatics, lubricants, and petroleum coke. The firm, however, said earlier this year that “we have determined that exiting the refining business by the end of next year is the best strategic and financial path forward for the Company.” LyondellBasell did not immediately respond to […]