British oil & gas company BP has acquired Houston-based EDF Energy Services (EDF ES) . EDF ES is a supplier of power, natural gas, and related services to commercial and industrial customers across the US. The complete terms and size of the deal were not yet disclosed but the agreement includes the purchase of EDF ES’s full retail operating capabilities. This acquisition has expanded BP’s presence into US retail power and gas businesses and helps integrate it with other BP businesses and capabilities. The objective is to support its decarbonization goals which include having net-zero carbon emission by 2050. EDF ES provides services to large corporations and public entities, including retailers, universities, manufacturers and producers, municipalities, power generators but excludes residential consumers. Dave Lawler, chairman and president BP America said, “EDF ES is a leading retail power supplier in the US. This is exactly the type of high caliber business that will help drive BP’s transformation, giving more customers the secure, affordable, and lower carbon energy they want while creating value for our shareholders.”

BP’s USD 2.939% 2051s were up 1 point to 70.68, yielding 4.84%.

For the full story, click here

Show Buttons
Hide Buttons