PetroChina (Beijing / China; www.petrochina.com.cn/ptr) is in talks with Ineos (Lyndhurst / UK; www.ineos.com) about purchasing a stake in the UK group’s refinery in Grangemouth, Scotland, according to media reports. Site manager Gordon Grant told members of the Grangemouth community liaison group that Ineos was in discussions with PetroChina but was also holding talks with other firms, Scottish newspaper “The Herald” reported.

Consultation on the closure of Ineos’ G4 ethylene plant at Grangemouth has ceased but would resume at the end of the summer, according to the reports – see Plasteurope.com of 17.06.2009. Ineos is looking at ways to cut its debt after debtholders agreed to agreed to waive covenants governing its borrowings until 17 July – see Plasteurope.com of 26.05.2009.