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BP PLC announced on Monday that will acquire, through its American division, power and gas provider EDF Energy Services.
The London-based oil & gas firm did not disclose the price for which it acquired Texas, US-based EDF Energy Services.
It said the acquisition would expand its presence in the US commercial & industrial retail power sector.
EDF Energy Services' customers are primarily corporations and public entities, including retailers, universities, and manufacturers. It does not supply residential consumers, BP explained.
Chair & President of BP America Dave Lawler said: ‘This is exactly the type of high calibre business that will help drive bp's transformation, giving more customers the secure, affordable and lower carbon energy they want while creating value for our shareholders.’
Shares in BP closed up 1.7% at 458.60 pence on Monday evening in London.
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