Shell does not want to sell stake in Basell jv, says BASF
14 March 2002 12:59 [Source: ICIS news]
LUDWIGSHAFEN, Germany (CNI)--Anglo-Dutch group Shell does not want to sell its stake in its Basell polyolefins joint venture with BASF, according to BASF chairman Jurgen Strube.
Shell has been quoted as saying that it was considering its options regarding Basell. At Shell's analyst briefing in December, the joint venture was identified at the briefing as being part of the group's $7bn (Euro8.0bn) of poorly performing assets.
Responding to questions about the press reports at BASF's annual conference on Thursday, Strube said he had been assured by Shell that it did not want to sell its stake in Basell.
Ludwigshafen-headquartered BASF reported today a 33% drop in 2001 operating profits before special items to Euro2.29bn.
By: Robert Winder
+44 208 652 3214
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
| ICIS news FREE TRIAL |
| Get access to breaking chemical news as it happens. |
| ICIS Global Petrochemical Index (IPEX) |
| ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index |
Related Articles
- 08 Aug 02 14:11 Analysis: Plastics, fibres lead BASF's Q2 earnings growth
- 08 Aug 02 12:14 BASF profits up 9.5% in Q2, sees strong Q3
- 01 Aug 02 15:52 Shell says more action needed to raise Basell profitability
- 30 Apr 02 09:30 BASF says on track to raise 2002 pfts after positive Q1
- 04 Apr 02 10:25 Basell obtains long-sought US patent on copolymer process
- 25 Mar 02 12:03 NPRA '02: Global petchem cycle to be demand driven - Shell
- 25 Mar 02 14:09 NPRA '02: Shell stresses commitment to Basell jv
- 24 Mar 02 19:46 NPRA '02: Low costs, customer service key to success - Shell
- 14 Mar 02 15:02 Basell suffers 2001 op loss of less than Euro100m - BASF
- 14 Mar 02 12:10 BASF welcomes US order rise but remains cautious on '02
- 14 Mar 02 12:10 BASF rules out purchase of Roche's vitamins business
- 14 Mar 02 09:01 BASF's 2001 operating profits plunge 33% to Euro2.3bn
- 01 Mar 02 09:41 Basell hikes European PE, PP prices again
- 04 Feb 02 00:00 Restructuring continues with Basell plant closure
- 08 Jan 02 16:35 2002 Outlook: Basell targets growth in central Europe
- 18 Dec 01 16:59 Basell to raise European PP feedstock integration
- 18 Dec 01 17:30 Shell highlights Basell problems
Latest News
- 27 May 13 03:47 Asia naphtha to move sideways on stable demand, ample supply
- 27 May 13 02:00 Asia top stories - weekly summary
- 24 May 13 23:59 Europe ABS May domestic prices down by €30-40/tonne
- 24 May 13 23:59 Europe May PVC contracts fall €40/tonne after ethylene decrease
- 24 May 13 23:39 Argentina YPF to inaugurate upgrade of Lujan de Cuyo refinery