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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Basell Buys German Cracker from BP-PdVSA Venture

8:39 AM MDT | July 30, 2007 | Ian Young

Basell says it has acquired Ruhr Oel’s steam cracker at Münchsmünster, Germany for an undisclosed amount. Ruhr Oel is a 50-50 joint venture between Petroleos de Venezuela (PdVSA; Caracas) and Deutsche BP, a BP subsidiary. The transaction includes sales agreements and associated assets. The Münchsmünster cracker has capacity to produce 342,000 m.t./year of ethylene. The decision to buy the Münchsmünster ethylene plant follows Basell’s announcement last year of plans to build a high-density polyethylene (HDPE) unit at...

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