Cleaner Tech
BP Buys Stake in Chinese Producer of Sustainable Aviation Fuel
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BP Plc has acquired a stake in a Chinese sustainable jet fuel company for 350 million yuan ($49 million), giving the oil major a foothold in one of the world’s biggest aviation markets.
The company purchased a 15% stake in a subsidiary of Zhejiang Jiaao Enprotech Stock Co., according to a statement late Thursday from BP’s China unit. The acquisition is subject to government approvals, it added.