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BP Plans to Sell Archaea Renewable Natural Gas Unit

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Sig3.45Sen-1.25Env-2.35Soc-0.15Gov+0.60

BP said it is planning to sell Archaea, which captures and sells gas from landfills and dairy farms, just four years after buying it for $4.1 billion. The move streamlines operations to improve lagging financial performance, though BP has written down Archaea’s value. CEO Meg O’Neill is also accelerating a pivot away from BP’s 2020 climate plan amid a Q2 profit surge.

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