BP Agrees to Sell Austrian Retail and EV Charging Network to Volenergy AG

Strategic Divestment in Austria

Global energy major BP has officially announced that it has signed an agreement to sell its retail and electric vehicle (EV) charging businesses located in Austria. The move is part of the company's broader strategy to optimize its retail footprint and focus on core markets. The assets being sold include a network of approximately 250 service stations, which currently operate under the BP brand.

Details of the Transaction

The purchaser, Volenergy AG, will acquire the entirety of BP's retail operations in the country. This acquisition encompasses not only the traditional fuel retail sites but also the associated EV charging infrastructure that BP has been developing in the region. Key components of the deal include:

• Approximately 250 service stations across Austria.
• Existing electric vehicle charging points integrated into the retail network.
• Transfer of operational responsibilities to Volenergy AG.

While financial terms of the agreement have not been publicly disclosed, the transaction remains subject to customary regulatory approvals and closing conditions.

Future Outlook

For BP, this divestment aligns with its global objective to simplify its business and concentrate capital on high-growth areas. The company has been actively reviewing its retail portfolio in various European markets to ensure alignment with its long-term energy transition goals. Volenergy AG is expected to integrate these assets into its existing operations, maintaining service continuity for customers across Austria. Both companies have expressed a commitment to a smooth transition for employees and partners involved in the affected business units.