Chevron Phillips Shuts Venture, Joins Refining Unit

Phillips Sumika Polypropylene, a joint venture between Chevron Phillips Chemical and Sumitomo Chemical, plans to wind down operations by the end of this year. Sumika has been operating its polypropylene plant in Pasadena, Texas, which has a capacity of 700 million lb per year, since 1992. Separately, James Mulva, chairman and CEO of ConocoPhillips, told investors in a recent presentation that his company will fold its 50% stake in Chevron Phillips into the refining and marketing assets that ConocoPhillips plans to spin off next year. When the company disclosed that it was splitting in two in July (C&EN, July 25, page 16), the company hadn’t yet decided on the fate of its partnership.