The joint venture (JV) between bp and Iberdrola España has commenced construction of a 25 MW green hydrogen plant in Spain. The initial phase includes earthworks and the development of a 20,000 square meter plot of land next to the bp refinery in Castellón. The first major equipment, including electrolysers, will arrive and be installed…
UK oil and gas giant bp is set to sign an agreement with the Government of Iraq to redevelop four oil and gas fields in the Kirkuk region of northern Iraq. The deal could be signed by early February, as stated by Iraq’s Oil Minister Hayan Abdel-Ghani to Reuters. The project aims to increase the…
BP has finalized its acquisition of the remaining 50.03% interest in Lightsource bp, fully integrating its 62 GW renewable energy pipeline across 19 markets worldwide into BP’s portfolio. Although BP now has full ownership, Lightsource bp will retain its brand and operate independently. This acquisition enhances BP’s renewable energy reach, supporting its broader low-carbon initiatives,…
BP is exploring the sale of a minority stake in its offshore wind division to offset the substantial development costs associated with its projects, as reported by Reuters. This move follows shareholder pressure over BP’s 2020 energy transition strategy, as profits from renewables have fallen while oil and gas margins have risen. The company has…