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Wysłany: Pon 0:59, 26 Sie 2013 Temat postu: BP to sell Malaysian ethylene and polyethylene int |
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BP to sell Malaysian ethylene and polyethylene interests to Petronas,[link widoczny dla zalogowanych]
BP today announced that it has agreed to sell its interests in ethylene and polyethylene production in Malaysia to PETRONAS. The agreement concerns BP 15 per cent interest in Ethylene Malaysia Sdn Bhd (EMSB) and 60 per cent interest in Polyethylene Malaysia Sdn Bhd (PEMSB),[link widoczny dla zalogowanych], both of which are operated by PETRONAS,[link widoczny dla zalogowanych], and are located at Kertih,[link widoczny dla zalogowanych], on the east coast of Malaysia. This announcement does not affect BP other businesses in Malaysia.
Under the terms of the agreement, PETRONAS will, at closing, pay $363m in cash to BP, inclusive of a balance sheet adjustment of $13m and the repayment of a shareholder loan of $53m. Subject to certain conditions, both parties anticipate completing the transaction by the end of 2010. Additionally, BP will also receive an EMSB pre-closing dividend payment amounting to $48m,[link widoczny dla zalogowanych], subject to EMSB Board approval.
Sue Rataj,[link widoczny dla zalogowanych], President of BP Global Petrochemicals Business,[link widoczny dla zalogowanych], said: these are attractive businesses with strong domestic and regional markets, BP recognizes that PETRONAS is their natural owner, with various integration opportunities uniquely available to them at the Kertih site. BP will continue to focus on the development and expansion of our olefins and derivatives business in China,[link widoczny dla zalogowanych], and other large rapidly growing markets,[link widoczny dla zalogowanych], and pursue opportunities in China and India to extend our leading world positions in aromatics and acetyls. olefins cracker,[link widoczny dla zalogowanych], commissioned in 1995, has production capacity of approximately 440,[link widoczny dla zalogowanych],000 tonnes per annum (tpa) of ethylene, a basic petrochemical feedstock. The company is owned by PETRONAS (72.5 per cent), BP (15 per cent) and Idemitsu (12.5 per cent). PEMSB,[link widoczny dla zalogowanych], whose polyethylene plant also began operation in 1995, is owned by BP (60 per cent) and PETRONAS (40 per cent). The plant has a production capacity of some 318,000 tpa of polyethylene,[link widoczny dla zalogowanych], used primarily for packaging and film manufacture. Ethylene feedstock for the plant is supplied by EMSB.
BP has been present in Malaysia since the 1960s and now has over 850 staff in the country. BP is currently in the process of growing its Asian Business Service Centre in Kuala Lumpur,[link widoczny dla zalogowanych], which supports business and functional operations both regionally and globally. BP owns a 600,000 tpa purified terephthalic acid plant in Kuantan and has a 70 per cent interest in a 560,000 tpa acetic acid plant in Kertih. He is a prostate cancer survivor and a nationwide recognized public speaker on the issue. If you want to schedule him for your next speaking venue, just call the number listed. Contact Richards by email or call him at (256) 417-6084 and follow him on Facebook or Twitter, **data verified by Capital Partners Limited,[link widoczny dla zalogowanych], an Alabama PR firm
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