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Shell Exits Joint Venture with BASF and Total

Tue, 08/02/2011 - 6:38am
the Associated Press

FLORHAM PARK, N.J. (AP) — BASF Corp. and Total Petrochemicals USA Inc. said on Monday that Shell Chemical LP is dropping out of a joint venture that owns a chemical plant in Port Arthur, Texas.

Shell's exit leaves BASF operating the plant and with a 60 percent share in the Sabina Petrochemicals LLC joint venture, with Total with a 40 percent share. Terms of Shell's exit were not disclosed.

The Port Arthur plant is next to a BASF facility as well as a Total refinery. It extracts chemicals used to make rubber and plastics, as well as alkylate, which is an additive in high-octane gasoline.

 

 

 

 

 

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