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The Spanish energy group Cepsa has carved out its chemical division, and in January the unit will begin operating as an independent business. Cepsa says it will review “all strategic options” for the chemical business. Last year the business had sales of about $2.9 billion of petrochemicals including phenol, linear alkylbenzene, and paraffins, from plants in Brazil, Canada, China, Germany, Indonesia, and Spain.
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