Pertamina may buy LyondellBasell French refinery

By INTI LANDAURO

PARIS -- French industry minister Arnaud Montebourg said Tuesday that Indonesia's state-owned oil company Pertamina is interested in the LyondellBasell-owned Berre oil refinery in southern France.

The refinery is in the process of being mothballed.

"The minister and his team are fully committed to try to make a solution with future for the refinery and its employees," the ministry said Tuesday in a statement.

The LyondellBasell refinery is under restructuring and its refining units are being mothballed through to the end of 2013 after the company was unable to find a buyer.

The refinery would be the third to stop operations in France over the past years as the whole business lost profitability because of low demand in the region, overcapacity and rising competition from refiners in the Middle East and Asia.

A fourth refinery is in trouble in Petit-Couronne on the country's northern coast after its owner, Swiss-based company Petroplus, filed for protection from creditors.


Dow Jones Newswires

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