BP sells petrochemicals business to Ineos for $5 billion

摘要

London—BP has agreed to sell its remaining petrochemicals business to Ineos Group for $5 billion, as the oil major retools its balance sheet in a push for cleaner energy and Ineos boosts its share of the global polymer market. Under the deal, the UK-based petrochemical giant will acquire all of BP’s petrochemicals business in Asia, the US and Europe, which last year produced 9.7 million mt of products and employed over 1,700 staff worldwide.