BP today announced that it has agreed to sell its interests in ethylene and polyethylene production in Malaysia to PETRONAS. The agreement concerns BP’s 15 per cent interest in Ethylene Malaysia Sdn Bhd (EMSB) and 60 per cent interest in Polyethylene Malaysia Sdn Bhd (PEMSB), both of which are operated by PETRONAS, and are located at Kertih, on the east coast of Malaysia. This announcement does not affect BP’s 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, subject to EMSB Board approval.
Sue Rataj, President of BP’s Global Petrochemicals Business, said: “Whilst 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, and other large rapidly growing markets, and pursue opportunities in China and India to extend our leading world positions in aromatics and acetyls.”
EMSB’s olefins cracker, commissioned in 1995, has production capacity of approximately 440,000 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, 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, 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, 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. BP also has a lubricants plant at Port Klang and the company’s lubricants brands, Castrol, BP and Duckhams, hold a significant market share in the country.
Release authorized for reprint to Hank Richards at the Examiner on 9/02/2010
________________________________________________________________
Hank Richards is a free-lance writer and contributes weekly columns for the Examiner, Politico-Arena Casual Commentary, PRonlineNews and AllRight Magazine. 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, an Alabama PR firm
Comments
welcome to :
===== http://www.fashionclothe.com ====
Air jordan(1-24)shoes $30
Handbags(Coach l v f e n d i d&g) $30
Tshirts (Polo ,ed hardy,lacoste) $15
Jean(True Religion,ed hardy,coogi) $30
Sunglasses(Oakey,coach,gucci,A r m a i n i) $15
New era cap $12
Bikini (Ed hardy,polo) $20
accept paypal and free shipping
===== http://www.fashionclothe.com ====
Hi,Dear Ladies and Gentlemen, ( http://www.vipstores.net ) Here are the most
popular, most stylish and avant-garde
shoes,handbags,Tshirts, jacket,Tracksuit w
ect...NIKE ,JORDAN SHOES 1-24,AF,DUNK,SB,PUMA
,R4,NZ,OZ,T1-TL3) $35HANDBGAS(COACH,L V, DG, ED
HARDY) $35TSHIRTS (POLO ,ED HARDY, LACOSTE) $16
New to Hong Kong : Winter Dress
--- NHL Jersey Woman $ 30 ---**** NFL Jersey $20
--- NBA Jersey $ 18 ---**** MLB Jersey $ 30
--- Jordan Six Ring_m $30 ---**** Air Yeezy_m $ 45
--- T-Shirt_m $ 15 ---**** Jacket_m $ 30
--- Hoody_m $ 30 ---**** Manicure Set $ 20
as long as the new and old customers to buy the corresponding product on this site, both a gift, so stay tuned! !
http://www.vipstores.net
Hello,everybody,the good shoping place,the new season approaching, click in. Let's facelift bar!
===== http://www.love-shopping.org ====
Air jordan(1-24)shoes $33
UGG BOOT $50
Nike (R4,NZ,OZ,TL1,TL2,TL3) $33
Handbags(Coach lv fendi d&g) $33
Tshirts (Polo ,ed hardy,lacoste) $16
Jean(True Religion,ed hardy,coogi) $30
Sunglasses(Oakey,coach,gucci) $12
New era cap $9
Bikini (Ed hardy,polo) $18
FREE SHIPPING
http://www.love-shopping.org
http://www.famalegoods.com
free shipping
High-Quality. Low Prices. First-class Service
Dear customers, thank you for your support of our company.
Here, there's good news to tell you: The company recently
launched a number of new fashion items! ! Fashionable
and welcome everyone to come buy. If necessary, please
input:
http://www.famalegoods.com
--------------------
Tshirts (Polo ,ed hardy,lacoste) $16
New era cap $15
Air jordan(1-24)shoes $33
Handbags(Coach,ed hardy,lv,d&g) $33
Jean(True Religion,ed hardy,coogi) $30
Sunglasses(Oakey,coach,gucci,Armaini)$16
Bikini (Ed hardy,polo) $25
Additionally, we also free shipping、Only charge a small Insurance.
Thanks to the support!
welcome to :
===== http://www.fashionclothe.com ====
Air jordan(1-24)shoes $30
Handbags(Coach l v f e n d i d&g) $30
Tshirts (Polo ,ed hardy,lacoste) $15
Jean(True Religion,ed hardy,coogi) $30
Sunglasses(Oakey,coach,gucci,A r m a i n i) $15
New era cap $12
Bikini (Ed hardy,polo) $20
accept paypal and free shipping
===== http://www.fashionclothe.com ====
Hi,Dear Ladies and Gentlemen, ( http://www.vipstores.net ) Here are the most
popular, most stylish and avant-garde
shoes,handbags,Tshirts, jacket,Tracksuit w
ect...NIKE ,JORDAN SHOES 1-24,AF,DUNK,SB,PUMA
,R4,NZ,OZ,T1-TL3) $35HANDBGAS(COACH,L V, DG, ED
HARDY) $35TSHIRTS (POLO ,ED HARDY, LACOSTE) $16
New to Hong Kong : Winter Dress
--- NHL Jersey Woman $ 30 ---**** NFL Jersey $20
--- NBA Jersey $ 18 ---**** MLB Jersey $ 30
--- Jordan Six Ring_m $30 ---**** Air Yeezy_m $ 45
--- T-Shirt_m $ 15 ---**** Jacket_m $ 30
--- Hoody_m $ 30 ---**** Manicure Set $ 20
as long as the new and old customers to buy the corresponding product on this site, both a gift, so stay tuned! !
http://www.vipstores.net
Hello,everybody,the good shoping place,the new season approaching, click in. Let's facelift bar!
===== http://www.loveshoppingplace.com ====
Air jordan(1-24)shoes $33
UGG BOOT $50
Nike s h o x(R4,NZ,OZ,TL1,TL2,TL3) $35
Handbags(Coach lv fendi d&g) $35
Tshirts (Polo ,ed hardy,lacoste) $16
Jean(True Religion,ed hardy,coogi) $30
Sunglasses(Oakey,coach,gucci,A rmaini) $16
New era cap $15
Bikini (Ed hardy,polo) $25
FREE SHIPPING
http://www.loveshoppingplace.com
welcome to :
===== http://www.fashionclothe.com ====
Air jordan(1-24)shoes $30
Handbags(Coach l v f e n d i d&g) $30
Tshirts (Polo ,ed hardy,lacoste) $15
Jean(True Religion,ed hardy,coogi) $30
Sunglasses(Oakey,coach,gucci,A r m a i n i) $15
New era cap $12
Bikini (Ed hardy,polo) $20
accept paypal and free shipping
===== http://www.fashionclothe.com ====
maybe you can find something here:
http://www.fashionshoppong.us
50%off ca,ed hardy t-shirt$15 jeans,coach handbag$33,air max90,dunk,polo t-shirt$13,,lacoste t-shirt $13 air jordan for sale,$35,nfl nba jersy for sale
free shipping
accept paypal credit card
lower price fast shippment with higher quality
our website: http://www.fashionshoppong.us
BEST QUALITY GUARANTEE!!
SAFTY & HONESTY GUARANTEE!!
FAST & PROMPT DELIVERY GUARANTEE!!
Packing: All the products are packed with original boxes and tags also retro cards/ code
numder
Got something to say?
Examiner.com is looking for writers, photographers, and videographers to join the fastest growing group of local insiders. If you are interested in growing your online rep apply to be an Examiner today!