The acquisition consists of 15 sites across the world (5 in the Americas, 2 in Europe and 8 in Asia) as well as 10 joint ventures.
BP and Ørsted have signed a Letter of Intent to work together to develop a ?project for industrial-scale production of green hydrogen.
BP Australia has announced that it will cease fuel production at its Kwinana Refinery in Western Australia and convert it to an import terminal.
The two companies are aiming to further digital transformation in energy systems and advance the net zero carbon goals of each other.
Air bp will make the Neste-produced fuel available at selected airports in Europe, with deliveries to airports including Stockholm and Oslo expected to begin in the coming weeks.
The company has said it "respectfully disagrees" with the US EPA's repeal last week of methane limits.
Will Scargill, Managing Oil & Gas Analyst at GlobalData, says that BP's transition to an integrated energy company will require "significant movements in the M&A market, if it is to be delivered in the targeted timeframe."