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People & Business :: M&A

BP to Sell its Stake in Atlas Methanol

11:21 AM MDT | October 6, 2011 | Natasha Alperowicz

BP has put its share in Atlas Methanol production joint venture up for sale. Atlas a, joint venture in which Methanex has 63.1% and BP 36.9%, operates a 1.7-million m.t./year methanol plant at Point Lisas, Trinidad. BP says the divestment forms part of its “ongoing divestment program.” Methanex, the operator of the facility may acquire BP’s share, sources say. BP is a major producer of acetic acid, using methanol as feedstock, but Atlas is its only methanol production asset. The company says its involvement in Atlas dates back to when the...

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