9th Jul 2025 11:52
(Alliance News) - BP PLC on Wednesday said it has agreed to sell its Netherlands mobility & convenience and BP pulse businesses to Breda, Netherlands-based energy company Catom BV.
The London-based oil major said the transaction includes around 300 Dutch retail sites, 15 electric vehicle charging hubs and the associated fleet business.
The financial details of the transaction were not disclosed, though BP said it contributes to its USD20 billion divestment programme and reset strategy to focus the downstream business.
In its first quarter results, it updated its divestment guidance to between USD3 billion and USD4 billion for 2025, with USD1.5 billion signed or completed to that date.
"This is the latest example of BP's strategy in action to reshape and high-grade its downstream businesses, focusing on leading integrated positions," the company said.
Catom has expanded its OK retail network to over 400 retail sites across the Netherlands, BP noted.
It said Catom presented the best overall offer, including future plans for the business and protection of terms and conditions of employees.
"We have built a high-quality retail and convenience business in the Netherlands but as we look to focus our downstream as part of a reset BP, we believe a new owner is best placed to take our Dutch business forward," said BP Executive Vice President Emma Delaney.
"We are working together with Catom to deliver a smooth and swift completion with minimal disruption on our people and customers."
The transaction is expected to complete by the end of 2025, subject to regulatory approval.
Shares in BP were up 0.8% at 386.85 pence in London on Wednesday morning.
By Michael Hennessey, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
BP