MOSCOW (MRC) -- Saudi Arabian state oil giant Saudi Aramco denied it had bid for the purchase of LynodellBasell Industries NV's refinery in Houston, said Hydrocarbonprocessing.
Sources familiar with the matter told Reuters that at least three firms including Aramco had bid over USD1 B for the refinery, with the Saudi firm seen as the front-runner among the bidders.
"The company did not bid for the referred venture," an Aramco statement said.
As MRC informed earlier, some sources said at least three firms including Saudi Arabian state oil giant Saudi Aramco have bid over USD1 B for LyondellBasell's refinery in Houston. The Saudi firm was initially seen as the front-runner among bidders that also included Valero Energy Corp. and Suncor Inc., sources said, but added it is unclear if that is still the case. Aramco has bid USD1.5 B for the plant, after an initial bid of USD1.2 B, three sources said.
Saudi Aramco and Sabic, the third-biggest petrochemical maker in the world by sales, are planning to build the refinery in Yanbu on the Red Sea coast, two people with knowledge of the plans said in April, asking not to be identified because the project was confidential. Saudi Aramco and Sabic had been working separately on projects to produce chemicals straight from oil without the need to operate separate facilities, the people said.
MRC