BP Signs MoU With Zhejiang Petroleum and Chemical Corp.
18 October 2019 - 8:47PM
Dow Jones News
By Oliver Griffin
BP PLC (BP.LN) has signed a memorandum of understanding with
Zhejiang Petroleum and Chemical Corp. to examine the potential to
create a new joint venture that would build and operate an acetic
acid plant in eastern China.
The oil-and-gas company said on Friday that the proposed 1
million metric ton per year plant will use its CATIVA XL technology
to produce acetic acid, a versatile intermediate chemical used in a
variety of products such as paints, adhesives and solvents.
Rita Griffin, chief operating officer of BP's petrochemicals
business, said the agreement was a significant new opportunity for
the company in one of the world's fastest-growing petrochemicals
markets.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
October 18, 2019 05:32 ET (09:32 GMT)
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