Ineos takes over global BP business in giant transaction

The supermajor cuts its portfolio, gaining billions of dollars by selling its entire petrochemical business.

UK-based BP is set to gain major earnings from divesting and to become greener. The company has a net debt of around USD 50 billion and an ambition to become a zero-emitting company by 2050.

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BP writes off billions as Covid redraws rules of oil demand
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