BP has announced its intention to sell its mobility and convenience business in Austria. This sale includes more than 260 retail sites, approximately 120 of which are company-owned, its associated Austrian fleet business, and electric vehicle charging assets, including those currently under development. Additionally, BP's shares in the non-operated joint venture (NOJV) of the Linz fuel terminal are part of the divestment. The marketing process for these assets will commence immediately, with the aim of completing the sale by the end of 2025, pending regulatory and other necessary approvals.
This decision is part of BP's broader strategy to reshape and focus its downstream businesses, a move that follows similar announcements regarding its mobility and convenience business in the Netherlands and previous retail divestments in Turkey in 2024 and Switzerland in 2022. Emma Delaney, EVP, customers and products at BP, stated that while the Austrian business is of high quality and has become the number two major branded retailer in the market, a new owner would be better positioned to unlock its full potential as BP refocuses its portfolio.
The sale aligns with BP's reset strategy under CEO Murray Auchincloss, which includes a $20 billion disposal program through 2027. This strategy involves scaling back on renewables investments while increasing spending on oil and gas. The company's focus remains on delivering services to its customers during this transition, ensuring that the intention to sell the retail business will not impact the customer experience. The financial terms of the deal with Volenergy have not been disclosed.
