The sale is another step in BP’s energy transition plan

Energy giant BP PLC has agreed to sell its petrochemicals business to British chemicals company Ineos Ltd. in a $5 billion deal that will help reshape its business for the global transition to lower carbon energy, the company said on Monday.
The move separates BP from its peers, as Royal Dutch Shell PLC and Exxon Mobil Corp. have been growing their petrochemicals businesses. BP said it would have taken considerable investment to grow the division, which is smaller than its peers businesses.
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