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Markets :: Basic Chemicals :: Petrochemicals :: Propylene

Will BP Target Chemicals in Asset Disposal Plan?

12:51 AM MDT | June 28, 2010 | Natasha Alperowicz

Speculation is mounting on which businesses BP will sell as part of its announced asset disposal program to strengthen financial liquidity following the oil spill in the Gulf of Mexico. BP agreed to pay $20 billion over the next three and a half years to a fund to compensate victims of the disaster. BP has announced a $10-billion divestment program over the next 12 months, "likely to be non-core upstream assets." The whole of the portfolio, however, is being reviewed and industry sources speculate that some chemicals may also form part of the disposals...

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