Located in Berre-l’Etang in southern France, LyondellBasell’s 105,000-barrel-per-day oil refinery has to be closed and about 370 jobs will be cut, if a suitable buyer is found.
The company is under pressure to shut down the oil refinery by the end of 2013, due to weak fuel demand, overcapacity, and competition from Middle Eastern and Asian refiners.
France Industry Minister Arnaud Montebourg was quoted by Dow Jones as saying that, "The minister and his team are fully committed to try to make a solution with future for the refinery and its employees."
Two refineries have already stopped operations in France and LyondellBasell will be the third refiner planning to close down the refinery.
Another refinery owned by Petroplus is facing rough weather and has filed for protection from creditors.
