The completion of the deal marks the third major investment by Ineos Energy in the USA in the past three years. It increases Ineos' capital spending on energy assets in the USA to above $3 billion.
LyondellBasell has won contracts for two PP projects, one in China and the other in Vietnam. The value of the contracts was not disclosed.
Energy and petrochemical giants ExxonMobil and Shell have signed a Memorandum of Understanding with CNOOC and the Guangdong Provincial Development & Reform Commission in China to evaluate the potential for a world-scale carbon capture and storage (CCS) project.
