Irene Himona's questions to BP PLC (BP) leadership • Q4 2024
Question
Irene Himona from Bernstein requested a breakdown of the bioenergy EBITDA, specifically the split between biofuels and biogas, and whether Archaea's performance improved despite weak biofuels margins.
Answer
CEO Murray Auchincloss confirmed that Archaea's performance is improving, with 12 new plants established, though progress is about 12 months behind schedule. He acknowledged that biofuels, particularly in Europe, remain challenging, leading to caution on sanctioning new plants.