August 4, 2026. BP is putting its United States biogas business up for sale, just three years after buying the unit, known as Archaea Energy, for $4.1 billion.
The move, announced during an earnings call with analysts, is the latest step the British oil giant has taken to narrow its operations and place greater emphasis on its domestic oil and gas business.
The company said it intended to sell Archaea Energy, a business that converts landfill waste into renewable natural gas (RNG), as part of a broad restructuring ordered by Chief Executive Meg O’Neill.
The announcement came only days after the company confirmed plans to leave the North Sea oil and gas business, ending decades of production activity in its home market.
Archaea was acquired by BP in 2022 in a transaction valued at $4.1 billion. At the time, the purchase was presented as a major move into renewable fuels, reflecting expectations of rising demand for lower-carbon energy.
Company officials said the business had not met expectations. BP has since reassessed the value of the asset as part of a wider examination of capital spending, debt and operating costs.