BP announced this week that it plans to divest Archaea Energy, the renewable natural gas company it acquired for $4.1 billion back in 2022. Company leadership cited the business’s high capital intensity and underwhelming returns, framing the move as part of a broader effort to streamline BP’s portfolio and refocus on core oil and gas operations. No buyer or timeline has been announced yet, but the decision marks a notable retreat from what was once billed as a flagship move into renewable fuels.
BP Moves to Exit US RNG Business, Puts Archaea Energy Up For Sale
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