(BASF) -- BASF and Total Petrochemicals & Refining USA (TPRI) have announced the companies had signed agreements relating to the merger of two joint ventures and the change of the name of the merged venture to BASF TOTAL Petrochemicals LLC for the companies’ Port Arthur, Texas, joint operations. This consolidates the joint ventures that were formerly known as BASF FINA Petrochemicals Limited Partnership and Sabina Petrochemicals LLC.
BASF retains 60 percent ownership in the joint venture and TPRI retains 40 percent.
The original joint venture was created in September 1997, when BASF and Fina Oil and Chemical Company (now TPRI) formed a limited partnership to build the naphtha steam cracker in Port Arthur.
BASF TOTAL Petrochemicals LLC is a joint venture between BASF Corporation and Total Petrochemicals & Refining USA, Inc. The Port Arthur facility operates one of the largest steam crackers in the world, turning naphtha and light hydrocarbons into ethylene, propylene and other chemical raw materials.
Total S.A. is one of the largest integrated international oil and gas companies with operations in more than 130 countries worldwide. TPRI is a major producer of base chemicals, styrene, polystyrene, polypropylene and polyethylene in the United States.
MRC