Lyondellbasell to keep petrochemical site in Marseille operational

05-May-14

Lyondellbasell Industries NV has promised the government to keep petrochemical operations near Marseille operational in the “long term” while a refinery there will be permanently shut, as per Bloomberg. The petrochem major has confirmed that the closure of its refinery will not affect the viability of its petrochemical activities at the Berre and Fos sites. The company also agreed to clean up the refinery site so it can be used for other industrial and logistics businesses. Refiners are mothballing plants across Europe, where overcapacity is depressing profit margins. In recent years Petroplus Holdings AG and Total SA have stopped refining at their plants at Petit-Couronne, Reichstett and Dunkirk.