4th Oct 2021 15:37
BP PLC - London-based oil major - Invests USD269 million in three projects at its Cherry Point Refinery in Washington state, US, aimed at improving the refinery's efficiency and to reduce carbon dioxide emissions. BP also believes the moves will increase its renewable diesel production capability.
BP America Chair & President David Lawler says: "BP's new investment in Cherry Point builds on a half century of innovation in Washington state. It will position us to provide lower carbon energy while creating jobs and reducing emissions in our operations."
Oil major says move is in line with its aim to be net zero across its operations by 2050 or sooner and to reduce the carbon intensity of the products it sells by 50% by 2050 or sooner.
Notes three projects are Hydrocracker Improvement project, Cooling Water Infrastructure project, and Renewable Diesel Optimisation.
Current stock price: 344.70 pence, up 2.0% on Monday
Year-to-date change: up 35%
By Paul McGowan; [email protected]
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