09 November 2009 17:48 [Source: ICIS news]
Correction: In the ICIS news story headlined "Shell holds talks with Qatar Petroleum on Singapore chems stakes" dated 9 November 2009, please read in the sixth paragraph ... polyethylene (PE) and polypropylene (PP) maker TPC ... instead of ... polyethylene (PE) and polypropylene (PP) maker PCS ... A corrected story follows.
LONDON (ICIS news)--Shell is in negotiations with Qatar Petroleum International (QPI) about the potential sale of part of its interests in Petrochemical Corporation of ?xml:namespace>
An agreement could be signed as soon as 11 November, according to media reports, but this could not be confirmed.
“Further detail regarding negotiations and terms [is] commercially sensitive and confidential,” a Shell spokesman told ICIS news. “It is too early for Shell (or QPI) to confirm a deal or comment on timescales,” he added.
PCS describes itself as the “upstream company of the S$5.4 billion [$3.9bn] Singapore Petrochemical Complex on
It supplies olefins, aromatics and utilities to downstream plants at the complex and produces methyl tertiary butyl ether (MTBE).
Shell has a 30% stake in polyethylene (PE) and polypropylene (PP) maker TPC, while a consortium of Japanese companies led by Sumitomo holds 70% of that venture.
Shell, QPI and PetroChina are conducting a feasibility study for an $11.7bn petrochemical complex in Taizhou in
Shell’s plans for a 1.3m tonne/year cracker and derivatives complex joint venture with QPI in
($1 = S$1.39)
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