BP to offload biogas unit
By Ben Geman
Published on August 4, 2026.
BP is planning to sell its biogas unit, Archaea, four years after it bought it for $4.1 billion. This move is part of BP's strategy to shift towards its core oil and gas business, which has lagged behind its peers. Archaea is the largest producer of renewable natural gas in the US. However, the company has written down Archaea's value since its acquisition. The announcement came during BP's second-quarter earnings rollout, where it reported a profit surge of $5.7 billion, $2.5B above the prior three months. New CEO Meg O'Neill has prioritized simplification of BP’s portfolio and investing with greater discipline.
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