Total seeks buyer for 50% of its Port Arthur refinery

30-Jul-15

Port Arthur is an integrated refining and petrochemicals platform that is one of six strategic platforms of Total Refining Chemicals in the world. Total is seeking a buyer for 50% of its Port Arthur refinery, similar to the company’s existing joint ventures in Saudi Arabia, Qatar and South Korea. But in the event of such a deal, Total would remain the operator of the Port Arthur facility The Port Arthur refinery is 100% owned by Total and the petrochemical site is a joint venture with BASF (40% Total and 60% BASF). Reuters estimates a 50% share of Total- Port Arthur could be worth US$188 million, although other factors like location, complexity and legal risk would affect that price