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LyondellBasell finds no buyer for Berre, France refinery

September 27/2011

(Lyondellbasell) -- LyondellBasell announced that the sales offering for the 105,000 barrels-per-day refinery in Berre, France has resulted in no offer to purchase the refinery. As a result, Compagnie Petrochimique de Berre S.A.S. (CPB), the refinery operator, intends to initiate consultations with its works councils, as defined under French law, on a project to cease refinery operations.

"After conducting a thorough sales offering that included reaching out to 85 entities throughout the world with the assistance of Barclays Capital and the Invest in France Agency (AFII), unfortunately not a single bid was received for the refinery," said Jean Gadbois, General Manager of the Berre site. 

The petrochemical assets at Berre include a steam cracker and world-scale polypropylene and polyethylene plants owned and operated by another LyondellBasell subsidiary.  The potential closure would not affect depot operations or the petrochemical plants and third-party facilities at Berre.

Tags:PE, PP, LyondellBasell.
Category:General News
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