LyondellBasell ends talks to sell French refinery
LyondellBasell said Sotragem's recent bid for the 105,000 bpd Berre refinery lacked acceptable commercial terms and showed no guarantee of a restart of the idled refinery.
LyondellBasell has ended talks to sell its 105,000 bpd Berre
refinery in southeastern France to Monoco-based Sotragem,
officials confirmed on Thursday.
The Berre refinery
has been mothballed since
January 2012 after LyondellBasell failed to find a buyer. The
company originally put the refinery
up for sale in May 2011.
LyondellBasell said in a statement that Sotragem's bid did
not offer acceptable commercial terms and showed no guarantee
of a restart of the refinery
"LyondellBasell therefore decided to put an end to
negotiations with Sotragem SAM," the company said in a
LyondellBasell added that it remains committed to its core
business operations at the Berre petrochemical
cluster. Over the
past two years, the company said it implemented several project
s to enhance the
competitiveness of its Berre cracker and downstream