BP reportedly weighs sale of Brazilian biofuels business
In Brazil, Bloomberg reports BP is reportedly considering selling its Brazilian biofuels business, according to Bloomberg, as the company continues reviewing its portfolio and capital allocation. The business is bp Bunge Bioenergia, which BP took full ownership of in 2024 after acquiring Bunge’s 50% stake for an enterprise value of about $1.4 billion. It operates 11 sugarcane agro-industrial units across five Brazilian states and has capacity equivalent to about 50,000 barrels of ethanol per day, producing both ethanol and sugar. BP had previously identified opportunities to expand into next-generation ethanol, SAF and biogas, but has increasingly focused on simplifying its portfolio.
Category: Fuels
