BP Acquires 50% Interest In Biofuel Company

BP is reportedly acquiring a 50% interest in BP Bunge Bioenergia S.A., a leading biofuels producer in Brazil. The acquisition is valued at $1.4 Billion. Post-acquisition, BP will become the sole owner of BP Bunge Bioenergia and is reportedly aiming to grow production to 50,000 bpd (biofuels) and 40,000 boepd (biogas) by 2025.

Sugarcane is the predominant feedstock utilized in this biofuel production.