COMPANY NEWS: LyondellBasell Industries files Chapter 11 bankruptcy

LyondellBasell Industries has filed for reorganizational bankruptcy for its US operations and Basell Germany Holdings. The filing does not include LyondellBasell’s other companies outside the US.The US companies filed for Chapter 11 protection in the Southern District of New York in Manhattan on Jan. 6.In other recent company news: The UK High Court has named Ernst & Young LLP as administrators of Oilexco North Sea Ltd. The company is seeking buyers for the business and its assets because banks refused to grant loans to carry out its drilling and development program (OGJ Online, Jan. 4, 2009). France’s Total SA plans to help commercialize Colorado oil shale by acquiring a ...

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