- BP Plc will intensify its activities in Japan after securing regulatory approval to operate as an electricity retailer.
- BP Plc explained that the move is aligned with its strategy to bet on resilient hydrocarbons, convenience and mobility, and lower carbon energy.
Oil-and-gas multinational BP Plc will intensify its activities in Japan after securing regulatory approval to operate as an electricity retailer in the Asian market amid a broader growth plan for its renewables and power business. The company, transforming into an integrated energy company, said that BP Energy Japan (BPEJ) will run as a registered electricity retailer.
Japan’s Ministry of Economy, Trade and Industry (METI) gave the green light to launch the new business. The oil major stated that the move aligns with its strategy to bet on resilient hydrocarbons, convenience and mobility, lower carbon energy and bolster investment in several growth areas, including renewable energy and electricity. “This expansion into power strengthened BP’s long history in Japan as a trusted supplier of liquid natural gas, oil, refined products, and lubricants for more than 60 years.