BP plans to sell its liquefied petroleum gas (LPG) bottles
and tank filling operations in Portugal, UK, Austria, Poland,
Netherlands, Belgium, Turkey, China and South Africa, as well
as its non refinery-integrated wholesale
business, the company said on Tuesday.
Also included in the sale are LPG storage terminals, bottle
filling plants, customer lists, operating licenses and
decision follows a review of BPs LPG portfolio last year,
the company said.
As a result of the review, BP said it concluded it is not
the natural owner long term of the LPG bottles and tank filling
The company says it believes business would offer greater
opportunities for other companies, allowing BP to continue to
focus its refining and marketing
BP intends to retain its autogas business in Europe and move it into the fuels
value chain, it said, and maintain LPG wholesale outlets to
support its refinery operations.
BP intends to remain a key player in the European LPG autogas sector and
through the Fuels Value Chains we will have a strategic fit
with our forecourt fuels offer, said Tufan Erginbilgic,
chief operating officer for BPs refining and marketing segment.
We will also maintain LPG wholesale outlets where they
support our refineries, he continued.
We believe that new owners will be able to build on
these good assets, and market positions to grow the businesses
further in the best interests of customers and, other
stakeholders, including those who work in the business.
We want to develop world class fuels value chains with an
integrated offer to our customers utilizing our market
The LPG bottles and tank filling activities will continue to
be managed as a global business until sold.
BP intends to sell the businesses as going concerns and
expects significant market interest, it said.
The company expects to complete any deal by the end of 2013,
subject to regulatory and other approvals.