A trio of chemical companies are said to be vying for BP’s stake in the Chinese petrochemical joint venture SECCO.
The deal could fetch more than $2billion with offers for the 50% stake expected to be submitted in the coming days.
According to reports, Ineos, Borealis and SK Chemicals are all said to be looking to land a share of the asset.
A fourth company is also said to be considering entering the bidding round.
BP’s partner in the joint-venture is state-owned China Petroleum & Chemical Corp.
The oil major is currently in the midst of a divestment drive as it looks to focus its business amid a continued global oil glut.
Sine 2010, BP has sold more than $50billion of assets.
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