LyondellBasell has ceased discussions with Sotragem SA, Monaco, for the sale of its shuttered 105,000-b/d Berre refinery in France to Sotragem SAM.
After a comprehensive analysis, the company determined that Sotragem’s offered neither acceptable commercial terms nor any guarantee for a viable takeover of the refinery with an actual restart of its operations, LyondellBasell said.
While it continues to operate the petrochemical plant on the site, LyondellBasell halted refinery operations at Berre in January 2012 amid challenges facing the European refinery market, according to the company.
Sotragem, a petroleum products trading firm, came forward in September 2013 as the sole bidder for the Berre refinery, which was offered for sale beginning in 2011, LyondellBasell said (OGJ Online, June 7, 2011).
Despite the ending of talks with Sotragem, LyondellBasell said it remains committed to its core business operations at the Berre petrochemical cluster, adding that it has implemented several projects to enhance the competitiveness of its Berre cracker and downstream activities at the site over the past 2 years.