BP agrees to sell global petrochemicals business to INEOS for $5 billion - Panorama Insurance Brokers

BP agrees to sell global petrochemicals business to INEOS for $5 billion

(S&P Global) London — BP has agreed to sell its global petrochemicals business to INEOS for $5 billion as part of plans to “reinvent” BP into a more focused, integrated energy company.

The sale agreement comprises all of BP’s aromatics and acetyls businesses, including assets, technology and licences, as well as related assets that are concentrated mostly in Asia, the US and Europe, BP said.

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