LyondellBasell Ends Talks to Sell Berre Refinery

LyondellBasell has ended talks to sell its Berre refinery near Marseilles, France, saying the bid failed to offer acceptable commercial terms and showed no guarantee of a restart.

French economy minister Arnaud Montebourg announced last month that privately owned oil products trading company Sotragem had made an offer to buy the refinery, a deal that would have run counter to the trend that European refineries are closing due to overcapacity.

In January 2012, LyondellBasell mothballed the 105,000 barrel-a-day refinery after having failed to find a buyer since putting it up for sale in May 2011.

Montebourg also sought in vain to save another refinery, the Petit-Couronne plant in northern France, which was closed last year.