Lyondell cuts production at Texas refinery after fire
Small fire puts refinery offline; EU clears Basell's buy of Lyondell
By Dave Hannon -- Purchasing, 10/29/2007 1:15:00 PM
Lyondell Chemical said a “brief fire” on Friday has caused the company to cut production rates at its Houston refinery.
Dow Jones News quotes David Harpole, a Lyondell spokesperson as saying the fire was out in five minutes and the refinery will be back up to full capacity in several days.
The news comes only days after the European Union has given the green light for Dutch firm Basell to acquire Lyondell. The EU executive said the companies' activities in the EU "are largely complementary" due to their different production areas. The combined Basell-Lyondell would have annual revenue of more than $34 billion and more than 15,000 employees around the world, the companies said.
The deal was originally announced in July.
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