BP sells UK fuel arm for £40.5m

British oil giant BP is selling its fuel supply arm for £40.5million, with Irish buyer DCC expected to take on the liquefied petroleum gas (LPG) distribution business from the end […]

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By Vicky Ellis

British oil giant BP is selling its fuel supply arm for £40.5million, with Irish buyer DCC expected to take on the liquefied petroleum gas (LPG) distribution business from the end of September.

DCC says the business, which provides industrial, commercial and domestic customers with around 87,000 tonnes of bulk and cylinder LPG a year, fits in with its existing LPG operations in Britain, which sells around 190,000 tonnes annually.

Tommy Breen, Chief Executive of DCC said yesterday: “We have a successful track record in acquiring energy distribution businesses from the oil majors as they exit downstream activities and this transaction will enhance DCC’s position as the leading oil and LPG sales, marketing and distribution business in Britain.”