bp has reached an agreement to sell its mobility, convenience and electric vehicle (EV) charging businesses in Austria to volenergy.

The deal includes 250 bp branded retail sites, of which around 115 are company owned and franchise operated, as well as electric vehicle charging infrastructure and the associated fleet business.

Retail sites in Austria will continue to operate under the bp brand through a brand license agreement following completion which is expected at the end of 2026, subject to regulatory approvals.

This transaction supports bp’s plan to become a simpler, stronger and more valuable company, and reflects its continued focus on disciplined capital allocation.

Richard Harding, interim EVP Downstream at bp, said: “By concentrating our capital on the assets and markets where bp can be most competitive and best serve customers, we are strengthening our balance sheet and creating a stronger downstream portfolio.”

Melanie Milchram-Pinter, head of country Austria at bp, added: “bp has built a strong mobility and convenience business in Austria over many decades and we believe volenergy AG is well placed to take it forward. Our priority now is to support our people, keep serving customers safely and reliably, and manage the transition well.” -OGN/TradeArabia News Service