(Bloomberg) — BP Plc agreed to sell its chemicals business to Ineos Group Holdings SA, taking a big step toward strengthening its finances while also furthering its transitioning away from being a traditional oil company.The transaction means BP hits its target of selling $15 billion of assets ahead of schedule, as the oil industry faces immense financial pressure from the coronavirus crisis. The company recently made its biggest write-off in a decade and said it would lay off 10,000 staff by the end of this year.The announcement comes just months after new Chief Executive Officer Bernard Looney set the London-based …read more
Source:: Yahoo Finance
