British Petroleum (BP) has announced a significant strategic move by agreeing to sell its Austrian mobility, convenience, fleet, and electric vehicle (EV) charging businesses to Switzerland-based volenergy AG. The decision is part of BP’s broader plan to simplify its global operations, strengthen its financial position, and focus investments on priority markets. The BP to sell Austrian fuel stations and EV charging to volenergy deal is expected to be completed by the end of 2026, pending regulatory approvals.
BP Sells Austrian Retail and EV Charging Business
Under the agreement, BP will transfer 100% of its shares in BP Retail Austria GmbH to volenergy AG. The transaction covers approximately 250 BP-branded retail fuel stations across Austria, including around 115 company-owned and franchise-operated sites.
In addition to the fuel stations, the acquisition includes:
- BP’s EV charging infrastructure across Austria
- The company’s local fleet business
- BP’s stakes in three non-operated joint ventures:
- Erdöl-Lagergesellschaft m.b.H.
- Autobahn-Betriebe Gesellschaft m. b.H.
- TLM Tanklager Management GmbH in Linz
Despite the ownership change, all retail locations will continue operating under the BP brand through a long-term brand licensing agreement.
What Is Excluded from the Sale?
While the transaction covers most of BP’s downstream mobility operations in Austria, some businesses remain outside the agreement.
The following operations are not included:
- Air BP’s aviation fuel business
- Castrol lubricants business in Austria
BP also confirmed that the financial details of the transaction remain confidential.
Why BP Is Selling Its Austrian Business
The BP to sell Austrian fuel stations and EV charging to volenergy aligns with the company’s wider strategy to optimize its downstream portfolio while reducing debt. BP is currently executing a $20 billion global divestment program, aimed at concentrating investments in markets where it sees stronger long-term growth and higher returns.
According to Richard Harding, Interim Executive Vice President of Downstream at BP, the company is focusing its capital on businesses and regions where it can remain most competitive while strengthening its balance sheet.
This strategic shift also reflects BP’s decision to prioritize its EV charging operations in key markets such as the United States, the United Kingdom, Germany, and China, while reducing exposure in selected European markets.
Volenergy Expands Its European Presence
The buyer, volenergy AG, is a subsidiary of Volare Group AG and already operates more than 730 fuel stations across Switzerland, making it the country’s largest fuel station network.
This acquisition further strengthens volenergy’s presence in Central Europe. Notably, the company previously acquired BP’s Swiss retail fuel station network in 2022, making Austria another important addition to its expanding mobility business.
BP’s Austria Country Head, Melanie Milchram-Pinter, stated that BP has built a strong mobility and convenience business in Austria over several decades and believes volenergy is well-positioned to continue serving customers and growing the business.
Part of BP’s Broader European Exit Strategy
The BP to sell Austrian fuel stations and EV charging to volenergy agreement follows a broader pattern of BP reducing its retail presence across Europe. In recent years, the company sold its mobility and convenience businesses in Switzerland (2022), Türkiye (2024), and the Netherlands (2025) as part of its ongoing portfolio simplification strategy.
Subject to customary regulatory approvals, the Austrian transaction is expected to close by the end of 2026, marking another important milestone in BP’s long-term transformation strategy.
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