LONDON : Spanish company Cepsa is considering the sale of a chemical plant in Shanghai as the oil and gas company pivots to a greener strategy across its various business lines, according to three sources familiar with the situation.A sale would see Cepsa's exit from China and comes after the company aban
LONDON : Spanish company Cepsa is considering the sale of a chemical plant in Shanghai as the oil and gas company pivots to a greener strategy across its various business lines, according to three sources familiar with the situation.
To accelerate and finance the strategy, the company has sold fossil fuel assets, including the March divestment of offshore fields in the United Arab Emirates to French oil company TotalEnergies. Phenol, acetone and cumene are utilised in the manufacturing of consumer plastic products and paint and coating solvents.
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