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6 Meses : De Nov 2018 a May 2019
By Oliver Griffin
BP PLC (BP.LN) said Thursday that it is exploring the creation of a new petrochemicals joint venture in Turkey along with Azerbaijan's state oil company, SOCAR.
The British oil major said the proposed facility in Aliaga, western Turkey, would produce 1.25 million metric tons a year of purified terephthalic acid, 840,000 tons a year of paraxylene and 340,000 tons a year of benzene.
Purified terephthalic acid is used to make polyesters.
BP said its latest proprietary PTA technology has significantly lower capital and operating costs compared with others.
The company said both it and SOCAR expect to work torward a potential final investment decision in 2019, which would mean the new plant starting up in 2023.
Write to Oliver Griffin at email@example.com; @OliGGriffin
(END) Dow Jones Newswires
December 20, 2018 06:14 ET (11:14 GMT)
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