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Petronas to buy BP's Malaysian ethylene, PE assets

from Oil & Gas Journal

Petronas agreed to buy BP PLC's Malaysian ethylene and polyethylene production for $363 million in a transaction expected to close by yearend, subject to certain conditions. "The agreement concerns BP's 15 percent interest in Ethylene Malaysia Sdn. Bhd. and 60 percent interest in Polyethylene Malaysia Sdn. Bhd., both of which are operated by Petronas," BP said in a Sept. 1 news release. more

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