BP Reportedly Considers Selling US Biogas Business for £3 Billion
UKPulse Money Desk
BP is reportedly considering the sale of its US biogas business, Archaea, for an estimated £3 billion. This move comes as the energy giant is said to be divesting green assets while experiencing a surge in oil profits.
- BP is reportedly putting its US biogas business, Archaea, up for sale.
- The potential sale price for Archaea is estimated at £3 billion.
- Archaea specialises in converting methane gas from landfill sites into renewable natural gas.
BP is reportedly exploring the sale of its US biogas operation, Archaea, with an estimated value of £3 billion. This business focuses on capturing methane gas from landfill sites and transforming it into renewable natural gas.
The reported divestment aligns with a trend of the energy giant selling off green assets, occurring at a time when its oil profits are said to be surging.