Posted inAT Finance, United Kingdom

BP sells petrochemical arm to Ineos for $5 billion

British energy group BP, hit hard by the coronavirus pandemic slashing demand for oil, announced Monday the sale of its petrochemical business to rival Ineos for US$5.0 billion. “The agreed sale … will further strengthen BP’s balance sheet and delivers its target for agreed divestments a year earlier than originally scheduled,” a statement said. BP […]

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