BP to sell or trim capacity at three refineries

01/15/1996
British Petroleum Co. plc last week disclosed a plan to sell or reduce capacity at its three least profitable refineries. The move will leave the company with 11 refineries around the world with total crude distillation capacity of 1.4 million b/d. Two wholly owned refineries will be offered for sale: the Lima, Ohio, plant with 160,000 b/d capacity and 455 workers, and the Lavera refinery in southern France with 200,000 b/d capacity and 620 workers. At the Nerefco refinery in Rotterdam, owned 65% by BP and 35% by Texaco Inc., crude distillation capacity will be trimmed by 70,000 b/d, and gasoline production capacity will be cut by 20,000 b/d. BP Chief Executive John Browne said the ...
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