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BP Agrees to Sell Its Petrochemical Business for $5 Billion

Matthew DiLallo, The Motley Fool
·2-min read
BP Agrees to Sell Its Petrochemical Business for $5 Billion

Oil giant BP (NYSE: BP) has agreed to sell its global petrochemicals business to leading chemicals company INEOS for $5 billion. The sale caps the company's plan to monetize $15 billion in assets, which it has now achieved one year ahead of schedule. The cash proceeds will enable the oil company to further strengthen its balance sheet and continue its strategic reimagining.

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