The
Bob
Dudley-led
British
supermajor
has
sold
its
entire
holding
in
BP
Chemicals
(Malaysia)
to
Reliance
in
an
all-cash
deal.
The
Kuantan,
eastern
Malaysia-based
offshoot
is
concerned
with
the
production
of
purified
terephthalic
acid.
All
current
staff
at
BPCM
are
expected
to
be
kept
on
following
closure
of
the
deal
which
is
set
for
the
end
of
the
year.
BP
is
not,
however,
selling
out
of
its
acetic
acid
manufacturing
and
marketing
business
in
the
South-East
Asian
country,
it
said
on
Friday.
Nick
Elmslie,
chief
executive
of
BP
Petrochemicals
said:
"BP
has
a
major,
global…
