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bp agrees to sell its petrochemicals business to INEOS

Release date:
29 June 2020

29 June 2020

 

bp agrees to sell its petrochemicals business to INEOS

bp today announced that it has agreed to sell its global petrochemicals business to INEOS for a total consideration of $5 billion, subject to customary adjustments. The agreed sale, the next strategic step in reinventing bp, will further strengthen bp’s balance sheet and delivers its target for agreed divestments a year earlier than originally scheduled.