BP to sell petrochemicals unit to Ineos for $5 billion

BP's logo at a petrol station in London, Britain. EPA-EFE/ANDY RAIN

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UK oil major BP said on Monday it would sell its global petrochemicals business to billionaire Jim Ratcliffe’s Ineos for $5 billion.

“With today’s announcement, we have met our $15 billion target for agreed divestments a full year ahead of schedule, demonstrating the range and quality of options available to us,” Chief Financial Officer Brian Gilvary said.

Via Reuters

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