Bioenergy is one of BP’s five transition growth engines and includes liquid biofuels for road, sustainable aviation and maritime fuels, and biogas.
BP to acquire full ownership of BP Bunge Bioenergia while refocusing plans for new biofuels projects.
High-returning transaction will allow BP to realise synergies and continue to grow the business.
Upon completion, BP will become sole owner of the industrial scale sugarcane and ethanol business, enabling BP to accelerate value creation through integration with bp’s trading and technology capabilities
BP is in action to grow its bioenergy businesses. By 2025 BP is targeting to grow its biofuels production and biogas supply to 50 mbd and 40 thousand barrels of oil equivalent per day respectively. By 2030, BP aims to grow its biofuels production and biogas supply to 100 mbd and 70 mboed respectively.
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