By OGJ editors
HOUSTON, Apr. 7 -- Lyondell Chemical Co. and Citgo Petroleum Corp. agreed to explore the sale of their Lyondell-Citgo Refining LP partnership operating a 268,000 b/d refinery in Houston.
The companies also announced the settlement of all disputes between Lyondell, Citgo, and Citgo's parent Petroleos de Venezuela SA. Lyondell-Citgo Refining was formed in 1993.
According to Oil & Gas Journal's latest Worldwide Refining survey, the Lyondell-Citgo refinery has 98,500 b/cd of delayed coking, 97,000 b/cd of fluid catalytic cracking, and 33,700 b/cd of semiregenerative catalytic reforming capacity.
"The companies will move diligently and expeditiously to prepare an offering memorandum and establish a data room," a Lyondell news release said. "Any sale would be subject to the approval of appropriate governing bodies."
