BP will sell its global petrochemicals business to INEOS for US$5 billion as it reaches its divestment target a year early and scrambles to raise cash for its net-zero structural overhaul.
BP chief Bernard Looney
Under the agreement announced overnight, the UK-based INEOS will pay a US$400 million deposit and will pay $3.6 billion upon completion.
BP reaches net debt target early
BP updates its emissions reduction targets
Tamboran ramping up Top End work
The future of frontline operations
Tamboran ramping up Top End work
The future of frontline operations
