BP to sell Archaea Energy biogas business
In the UK, Gas World reports BP plans to sell its Archaea Energy biogas business as part of a broader strategy to streamline its portfolio and focus on higher-value assets. The company acquired Houston-based Archaea for $4.1 billion in 2022 to expand its renewable natural gas business but now considers the operation non-core. BP said it will continue its renewable natural gas partnership with Clean Energy Fuels despite the sale. The company expects $8 billion to $9 billion in asset sale proceeds this year as it reshapes its business following improved quarterly earnings driven by higher energy prices.
Category: Fuels
