Lyondell to Pay $170 Million to BASF

A U.S. court has ordered Lyondell to pay $170 million to BASF for charging the company more than an agreed to amount for the supply of propylene oxide (PO). BASF says it filed a lawsuit with the Superior Court of New Jersey in April 2005 after discovering that Lyondell had been selling PO to other companies at prices substantially lower than BASF’s price. This is a violation of the contract signed by both parties in 1998, which guaranteed BASF to purchase PO at the lowest price of all Lyondell customers, BASF...

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