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BP to Divest Austrian Retail Fuel and EV Charging Network to volenergy
BP announced on Monday it has entered an agreement to sell its retail fuel station and electric vehicle charging operations in Austria to volenergy AG. The divestment is part of BP's ongoing strategy to refine its business portfolio and concentrate capital on its most competitive markets and assets.
Scope of the Transaction
The deal includes the sale of 100% of BP's shares in BP Retail Austria GmbH. The assets being transferred encompass a significant network of infrastructure and business operations, including:
- 250 BP-branded retail sites, of which approximately 115 are company-owned or franchise-operated.
- The associated electric vehicle (EV) charging infrastructure.
- BP's Austrian fleet business.
- Stakes in three non-operated joint ventures: Erdöl-Lagergesellschaft m.b.H., Autobahn - Betriebe Gesellschaft m.b.H., and TLM Tanklager Management GmbH.
Financial terms of the agreement were not disclosed. Following the transaction's completion, the sites will continue to operate under the BP brand through a licensing agreement.
Strategic Rationale
AdThe sale aligns with BP's efforts to optimize its downstream operations. "By concentrating our capital on the assets and markets where BP can be most competitive and best serve customers, we are strengthening our balance sheet and creating a stronger downstream portfolio," said Richard Harding, interim EVP Downstream at BP.
This move is the latest in a series of similar divestments by the company, following the sale of its mobility and convenience businesses in Switzerland (2022), Türkiye (2024), and the Netherlands (2025). BP confirmed that its aviation business and Castrol operations in Austria are not part of this sale and will continue to operate as usual.
Next Steps
The transaction is subject to customary regulatory approvals and is expected to close by the end of 2026. Melanie Milchram-Pinter, head of country for Austria at BP, stated that the company believes volenergy AG is well-positioned to continue the growth of the business.
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