bp has reached an agreement with Verdane to divest bp Ventures’ minority interests in more than 10 companies in its portfolio, subject to regulatory and contractual approvals.

The transaction includes most of bp Ventures' minority interests across a range of energy-related technologies. It supports bp's continued focus on simplifying its portfolio and disciplined capital allocation, while providing the portfolio companies with an investor focused on supporting their next phase of development.

bp will retain interests in a small number of investments where the technology has the potential to create value for its businesses.

The divestment is expected to complete by the second quarter of 2027. -OGN/TradeArabia News Service