Oil and Gas Company BP to Focus on Its Biofuels Technology Licensing
CHEMMONITOR.COM – The UK-based oil and gas company with HQ in London, BP plc, reached the decision not to put up a cellulosic ethanol plant in Florida (USA). The company intends to refocus its biofuels strategy in the USA and to license a biofuels technology instead.
The announcement about the plant construction was made four years ago. BP planned to produce about 35.9 million gallons of cellulosic ethanol annually.
Nevertheless, now, the company is interested in more profitable and attractive projects.