10 January 2011 11:49 [Source: ICIS news]
LONDON (ICIS)--INEOS is unable to confirm reports that PetroChina will later on Monday announce an investment in the privately-held petrochemical firm’s refineries at Grangemouth in ?xml:namespace>
PetroChina has been widely linked with a possible investment in the Grangemouth facility, Scotland's largest refinery.
A Reuters report, citing unnamed industry sources, said it was not clear whether the deal would involve the takeover of the INEOS refining assets or the acquisition of a smaller stake in the refineries.
Both have crude processing capacities of 200,000 bbl/day and are closely integrated with the INEOS petrochemical businesses.
“We have been talking to a number of parties for about a year about investing in the refining business that covers Lavera and Grangemouth,” INEOS spokesman Richard Longden said. He would not comment on the report.
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