UPDATE 2-Lyondell seeks to diversify Venezuela crude supply

Wed Dec 8, 2010 10:25pm GMT

* PDVSA crude supply contract to Houston expires July 2012

* Lyondell looks to Canada, Brazil and Colombia supplies

* Plans Houston refinery FCC overhaul in January

* FCC work will improve conversion efficiency

* Lyondell sees margins flat for several years

(Adds details about Venezuela crude supply, Lyondell-PDVSA crude contract, refinery history)

By Erwin Seba

HOUSTON, Dec 8 (Reuters) - LyondellBasell (LYB.N: Quote) said on Wednesday it is seeking new crude suppliers for its Houston refinery in order to replace some of the oil provided by Venezuela, which is looking to diversify its customer base beyond the Americas.

A crude oil supply contract with state owned Petroleos de Venezuela SA (PDVSA) expires in July 2012, said Kevin Brown, Lyondell's senior vice president for refining and oxyfuels, during an investor conference webcast.   Continued...

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