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Grangemouth part of BP sell-off
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OIL giant BP said yesterday it would include two oil refineries -
including Grangemouth in central Scotland - in the planned sale or
flotation of its underperforming chemicals arm next year.
The refineries - the other one is at Lavera in southern France -
produce feedstocks for and are physically integrated with
neighbouring chemicals plants that are part of the unit BP said last
April it was going to sell or float.
BP said the refineries, which employ 2,500 BP staff and additional
contract employees, would be more valuable to the new olefins and
derivatives entity than to BP itself. It ...
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