Chances for a quick sale of LyondellBasell Industries' Houston oil refinery are dwindling with several other refineries competing for buyers, said people familiar with the matter on Monday.
A PBF spokesperson did not respond to a request for comment.have been interested in the operation at times, the people said.
The Lyondell plant is a full-conversion refinery, meaning it can process cheaper high-sulfur heavy crude oil into motor fuels that meet U.S. environmental standards. In 2016, Lyondell received interest from at least four suitors and hired an investment bank to weigh its options. The plant was later taken off the market after it was unable to agree on a sales price, people said at the time.
John Auers, vice president with oil and refining consultancy Turner, Mason, noted the potential for heavy-conversion plants to regain favor.