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Sinopec studying BP's terms for SECCO JV exit plan

Tue, 09th Aug 2016 07:57

HONG KONG, Aug 9 (Reuters) - State-owned China Petroleum &Chemical Corp (Sinopec) is currentlydiscussing the conditions put forward by British oil and gasmajor BP plc for its planned exit from their SECCOpetrochemicals joint venture, a Sinopec spokesman told Reuterson Tuesday.

Reuters earlier reported that BP has hired an investmentbank to find buyers for its 50 percent stake in SECCO, a dealthat could fetch up to $3 billion.

The Sinopec spokesman said the company had not made adecision on whether to buy BP's stake. (Reporting by Denny Thomas and Tris Pan; Editing by WillWaterman)

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