The blog’s close eye on Scotland’s media has again been rewarded this morning, as ‘The Scotsman’ reveals that Ineos have appointed Morgan Stanley, the investment bank, to advise on the sale of Grangemouth.
It suggests that a company such as “PetroChina could buy the refinery, while Ineos would retain the polymer and petro-chemical processing plants located on the same site”. But worryingly from Ineos’ point of view, it quotes a PetroChina official as saying that “downstream business has a poor margin nowadays and talks can take a really long time”.
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