BP signs £4billion deal to sell petrochemicals arm to one of UK's richest men
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mirror.co.ukBP has signed a multi-billion-pound deal to sell its global petrochemicals business to one of the world richest financiers. The company said the $5billion sale to INEOS will be "the next strategic step in reinventing BP", just weeks after it announced up to 10,000 job cuts.
Bernard Looney, BP's chief executive officer said: “This is another significant step as we steadily work to reinvent BP. These businesses are leaders in their sectors, with world-class technologies, plants and people.
In recent years they have improved performance to produce highly competitive returns and now have the potential for growth and expansion into the circular economy. “I am very grateful to our petrochemicals team for what they have achieved over the years and
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