Our global petrochemical division is part of bp’s Downstream business, which is the service-led arm of bp comprising three businesses: fuels, lubricants and petrochemicals. Petrochemicals manufactures products across 16 global sites and markets products in more than 40 countries.
In 2016, bp Acetyls Americas celebrated the 30-year anniversary of a production agreement with the Texas City acetic acid site. Our story begins with Monsanto, the original owner and developer of a leading acetic acid technology. Later a group of employees and other investors formed Sterling Chemicals to purchase the asset while bp purchased the technology.
Using bp’s sales and marketing, supply chain and logistics expertise, a deal was put together with Sterling Chemicals that gave bp the exclusive rights to 100% of the acetic acid produced from the Texas City unit. In 2011, Sterling Chemicals was purchased by Eastman Chemical Company, who currently operates the Texas City facility. The unique commercial relationship continues to build upon bp Acetyls’ strengths in technology, sales and marketing, including a portfolio of valued customers.
bp continues to expand to provide strategic and efficient supply of acetic acid to customers. In 2018 bp and Eastman Chemical Company began a new supply agreement that enables bp to supply customers from Eastman’s Kingsport, Tennessee production facilities. Having two acetic acid supply sources improves bp’s security of supply, reducing transit time and costs.
bp has an ownership share in Atlas Methanol Company. This joint venture owns one of the world’s largest single-train methanol plants, producing up to 1,822Kmt per year. Brought on stream in 2004 and strategically located in Trinidad and Tobago, this efficient and modern plant can competitively supply global methanol markets.