Polyolefins giant LyondellBasell (Rotterdam / The Netherlands; www.lyondellbasell.com) has said it will sell its refinery at Berre / France, which has output capacity of 105,000 barrels per day. However, it will continue its olefins and polyolefins activities at the French site near Marseille, where it operates a 320,000 t/y LDPE plant and a 300,000 t/y PP plant.

LyondellBasell said the refinery, acquired by its previous management from Shell (see Plasteurope.com of 08.02.2008) to insure supply to its olefins and polyolefins production, had “failed to meet financial expectations.” An investment bank is to be engaged to help find a buyer, but no figure has been put on the asking price, at least publicly. Speaking at recent petrochemical conferences, LyondellBasell CEO Jim Gallogly hinted that decisions made by the group’s pre-bankruptcy management were under review and that restructuring moves could be in the offing.