BP has announced that it will take full control of BP Bunge Bioenergia by the end of 2024, consolidating a production capacity of around 50,000 barrels of ethanol equivalent per day from sugarcane. BP will also incorporate Bioenergia’s debt and lease obligations, valued at $1.2 billion, bringing the total amount paid to Bunge to $800 million, according to Reuters calculations.
Investment strategy and return outlook
The acquisition comes amid growing investor concerns about BP ‘s…
Read More…
Source: https://energynews.pro/en/bp-acquires-50-of-biofuels-specialist-bunge-for-1-4-billion/