It's a major move in BP's pivot back to its core oil and gas business.
BP divests US biogas business Archaea ($4.1bn 2022 acquisition) after underperformance, refocusing on core oil & gas under new CEO O'Neill. The capital reallocation away from cleantech toward fossil fuels by oil majors pressures IT leaders' ESG and clean-energy infrastructure initiatives.
BP has announced that it will offload its US biogas business just days after confirming its exit from the North Sea
BP is putting its US biogas business up for sale as elevated energy prices bolster profits and Meg O’Neill accelerates the company’s shift toward higher-return oil and gas assets.
