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BP PLC on Wednesday announced it launched a biofuel feedstock joint venture with Corteva Inc, an Indianapolis, Indiana-based pure-play agriculture company. The London-based oil major said the new 50/50 joint venture named Etlas will produce oil from crops such as canola, mustard and sunflower, for use in the production of biofuels like sustainable aviation fuel and renewable diesel. ‘Etlas will harness both Corteva’s century-long expertise in seed technology to develop crops ideally suited to produce SAF and RD as well as BP’s expertise in refining and marketing fuel for the commercial transportation market,’ BP said. BP added that Etlas aims to produce one million metric tonnes of feedstock per year by the mid-2030s, which could produce over 800,000 tonnes of biofuel. Initial supply is expected to begin in 2027 for use in co-processing at refineries and at dedicated biofuel plants. Philipp Schoelzel, senior vice president, biofuels growth at BP said: ‘This capital light joint venture creates optionality in our biofuels value chain, strengthening our position and helping deliver attractive returns. We’re excited to collaborate with Corteva to deliver what our customers want.’ BP shares fell 3.5% to 416.80 pence each on Wednesday morning in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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