BP raises Asian profile with Chinese acetic acid plant plan

LONDON (Reuters) - BP is increasing its Asian presence with an initial agreement, or memorandum of understanding, with China's Zhejiang Petroleum and Chemical Corporation (ZPCC) to build a 1 million tonne a year acetic acid plant, BP said on Friday.The planned production site for acetic acid, which is used in chemical products such as paints and adhesives, would be part of ZPCC's refining and petrochemical plant in Zhoushan in eastern China, BP said in a statement."The potential new..