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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

BP to Target Chemicals in Asset Disposal Plan?

11:45 AM MDT | July 12, 2010 | NATASHA ALPEROWICZ

Speculation is mounting about which businesses BP will sell as part of a recently announced asset disposal program to strengthen financial liquidity following the oil spill in the Gulf of Mexico. BP has agreed to pay $20 billion over the next three-and-a-half years into a fund to compensate victims of the disaster. BP announced a $10-billion divestment program over the next 12 months, “likely to be noncore upstream assets.” The whole of the company’s portfolio is being reviewed, however, and industry sources speculate that some chemical assets may form part...

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