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BP sells Malaysian interests for $363m
LONDON - BP is to sell its ethylene and polyethylene operations in Malaysia to Petronas for $363 million in cash, continuing a disposal programme as a result of the huge financial cost of the Gulf of Mexico oil spill, Reuters reported.
The British oil giant said on Wednesday that it would sell its 15 percent stake in Ethylene Malaysia (EMSB) and its 60 percent interest in Polyethylene Malaysia to state owned Petronas, which already operates the two businesses.
"Whilst these are attractive businesses with strong domestic and regional markets, BP recognizes that Petronas is their natural owner," BP said in a statement.
Under the terms of the deal BP will also receive a pre-closing dividend of $48 million from EMSB.
TAGS: BP, ethylene and polyethylene operations, Malaysia, Petronas, disposal programme, Gulf of Mexico, oil spill, Ethylene Malaysia, Polyethylene Malaysia, Petronas, EMSB
Azeri speaker criticizes CoE policies
04.02.12 12:32Azerbaijani Parliament Speaker Ogtay Asadov has criticized the Council of Europe parliamentary assembly, saying it was baseless to scrutinize the issue of “political prisoners” in any country given the absence of PACE’s relevant legal documents and fully outlined criteria.
U.S. defense chief downplays speculation of Israeli attack on Iran
04.02.12 12:34U.S. Defense Secretary Leon Panetta has downplayed a U.S. newspaper report suggesting he believes Israel is planning a military strike -- perhaps as early as spring -- against Iran`s nuclear facilities.
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