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BP: to sell petrochemicals business to Ineos

( - BP today announced that it has agreed to sell its global petrochemicals business to Ineos for a total of 5 billion dollars.

"Next strategic step in focusing portfolio as part of reinventing bp; Further strengthens bp's finances, delivers $15 billion divestment target a year early," the group said.

The deal is set to be completed by the end of 2020.

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