PetroChina is in negotiations with British chemical company Ineos Group to acquire a stake in Grangemouth refinery, Bloomberg reports.
If finalised the deal, which was revealed by a Scottish Government official, will give PetroChina its first refinery in Europe and an opportunity to tap into oil recovery projects in the North Sea.
Ineos, on the other hand, has been looking out for partners to bail it out of a €7.5bn debt.
