BP Sells Petrochemical Business to Ineos for $5bn

Industry Europe | Jun 29, 2020 at 3:30 PM
  • Oil titan BP announced on Monday that it will be selling its petrochemicals business to UK chemical company Ineos for $5 billion (€4.61 billion) in a bid to “reinvent” themselves.
  • BP’s petrochemicals business is focused on two main businesses, aromatics and acetyls.
  • The acetyls business makes acetic acid and derivatives such as acetic anhydride, which have uses in a wide range of sectors.