Ineos PLC is working with PetroChina to negotiate large-scale investment in Grangemouth refinery in Scotland, it may mark the first time Chinese companies involved in the European refining market.
June 19 report, PetroChina Co. Ltd. Is working with the troubled British chemicals company Ineos PLC to discuss a large-scale investment in oil refinery in Scotland, it may mark the first time Chinese companies involved in the European refining market.
Ineos PLC is a heavy debt burden of private chemical group. The company said in May this year, its loans have been approved to give up the termination of the extension period, provided that the breathing space, and adjust their liabilities of 7.5 billion euros.
Ineos PLC and PetroChina to carry out negotiations, a number of European companies are trying to sell its oil refineries, due to the demand for oil and chemical products, as well as the downturn of the decline in profits. Ineos PLC, said in a statement, the company is working with several potential partners to discuss opportunities for development of Grangemouth oil refinery. But the company, to negotiate a "tentative", not necessarily to the introduction of Grangemouth investment. The company said that the refinery Ineos PLC Group is still a core component of.
Recently, PetroChina president Zhou Jiping said the company should make full use of relatively low oil prices, and actively look for opportunities overseas.
Jun. 21, 2009
