27th Mar 2025 12:51
(Alliance News) - BP PLC on Thursday said it plans to sell its mobility & convenience business in Austria, composed of petrol stations, electric vehicle charging points, and a stake in a fuel terminal.
The London-based oil major said it will begin the marketing process immediately and aims to complete the sale by the end of 2025.
The sale includes over 260 retail sites in Austria, of which around 120 are company owned; its Austrian fleet business; electric vehicle charging assets; and its shares in the company operating the Linz fuel terminal.
BP said the Austrian decision is an example of its strategy to "reshape and focus its downstream business" following last year's announcement that it was looking to sell its mobility & convenience business in the Netherlands.
The firm has previously divested its retail businesses in Turkey in 2024 and Switzerland in 2022.
Executive Vice President Emma Delaney said: "We have a high-quality retail business in Austria with excellent locations, great people and a loyal customer base. Over recent years we have grown the business to become number two major branded retailer in the market. As BP now looks to focus downstream and reshape our portfolio, we believe that a new owner will be best placed to unlock the business's full potential."
Shares in BP were down 0.8% to 443.55 pence in London on Thursday afternoon.
By Michael Hennessey, Alliance News reporter
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