FLORHAM PARK, N.J. (AP) -- BASF Corp. and Total Petrochemicals USA Inc. said on Monday that Shell Chemical LP is dropping out of a joint venture that owns a chemical plant in Port Arthur, Texas.
Shell's exit leaves BASF operating the plant and with a 60 percent share in the Sabina Petrochemicals LLC joint venture, with Total with a 40 percent share. Terms of Shell's exit were not disclosed.
The Port Arthur plant is next to a BASF facility as well as a Total refinery. It extracts chemicals used to make rubber and plastics, as well as alkylate, which is an additive in high-octane gasoline.