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LyondellBasell to Sell French Berre Refinery

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This topic contains 1 reply, has 1 voice, and was last updated by  Charles Randall 11 years, 8 months ago.

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  • #2244

    basil parmesan

    LyondellBasell to sell French refinery
    LyondellBasell to sell French refinery because it hasn’t fulfilled financial projections


    The Associated Press, On Tuesday May 31, 2011, 7:31 am EDT
    Dutch chemical company LyondellBasell said Tuesday it plans to sell a French refinery because the refinery hasn’t fulfilled the company’s financial expectations for the operation.
    LyondellBasell didn’t say how much it would ask for the Berre, France refinery. It expects to retain an investment banking firm to assist with the sale. The refinery was acquired in 2008 under the company’s former management.
    The company said it will hold on to the chemical assets at the site, including a petrochemical plant and polypropylene and polyethylene plants that are owned and operated by a subsidiary.

  • #5058

    Charles Randall

    Here is news item about Lyondell’s Berre’s joining pack up for selling refineries -I just saw an email on recap of other EU Refineries for sale. Which I will post as well. 
    Don’t guess Lyondell folks realize doesn’t pay to sell refinery for not meeting “forecast” goals in really bad market or when market is saturated with dozens of other plants on sale!
    I wonder if  EU / EU oil majors understand how screwed they are going to be ceeding over all expansion & future supply/demand to Russians, Chinese, Indians & few countries like Spain holding out future growth?

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