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A wave of closures and disposals is reshaping the global petrochemical sector as companies around the world rethink their exposure to markets as they adjust to capacity build-up in China and higher costs in Europe. The European Union is being hit the hardest by the rationalisation, while the United States and the Middle East are considered relatively immune. Petrochemical makers in Asia are also reducing capacity but at a slower pace compared with the EU. Here is a list of some of the major closures, divestment and portfolio reviews:U.S.-based LyondellBasell in June said it had started exclusive talks to sell four olefin and polyolefin plants in Europe to Munich-based investment firm AEQUITA. The sites to be sold are in France, Germany, Britain and Spain. The company has also said it is ev

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