BP signs Ineos sale deal

摘要

BP is to sell its petrochemicals business to chemicals giant Ineos in a $5 billion deal as the supermajor takes the next strategic step in focusing its portfolio on energy transition. The transaction means that BP has now agreed $15 billion of divestments and other disposals through 2019 and 2020 to date, an amount originally expected to be reached by mid-2021. BP's petrochemicals business is focused on two main businesses; aromatics and ace-tyls. In total, the businesses have interests in 14 manufacturing plants in Asia, Europe and the US and in 2019 produced 9.7 million tonnes of petrochemicals. BP chief executive Bernard Looney this week said: "This is another significant step as we steadily work to reinvent BP... strategically, the overlap with the rest of BP is limited and it would take considerable capital for us to grow these businesses.