SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
for the period ended 20 June, 2006
BP p.l.c.
(Translation of registrant's name into English)
1 ST JAMES'S SQUARE, LONDON, SW1Y 4PD, ENGLAND
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F |X| Form 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes No |X|
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BP AND DUPONT ANNOUNCE PARTNERSHIP TO DEVELOP ADVANCED BIOFUELS
DuPont bio-based science and BP fuels technology expertise will bring next
generation biofuels to market
BP and DuPont today announce the creation of a partnership to develop, produce
and market a next generation of biofuels to help meet increasing global demand
for renewable transport fuels.
BP and DuPont have been working together since 2003 to develop advanced biofuels
with properties that can help overcome the limitations of existing biofuels.
That work has now progressed to the point where they are able to bring the first
jointly developed product to market. The companies' joint strategy is to deliver
advanced biofuels that will provide improved options for expanding energy
supplies and accelerate the move to renewable transportation fuels which lower
overall greenhouse gas emissions.
The companies are leveraging DuPont's world-class biotechnology and
bio-manufacturing capabilities with BP's fuels technology expertise and market
know-how. By pooling their knowledge and expertise, the two companies aim to be
the world leaders in the development and production of advanced biofuels,
driving the growth of biofuels, which today account for less than two percent of
global transportation fuels. Current projections show that biofuels could become
a significant part of the transport fuel mix in the future - possibly up to
20-30 per cent in key markets.
The first product to market will be biobutanol, which will be introduced in the
United Kingdom as a gasoline bio-component. Initial introduction is targeted in
the UK in 2007 where BP and DuPont are working with British Sugar, a subsidiary
of Associated British Foods plc, to convert the country's first ethanol
fermentation facility to produce biobutanol. Additional global capacity will be
introduced as market conditions dictate and a feasibility study in conjunction
with British Sugar is already underway to examine the possibility of
constructing larger facilities in the UK.
"DuPont firmly believes that biology will help us reduce global reliance on
fossil fuels," said DuPont Chairman and Chief Executive Officer Charles O.
Holliday, Jr. "Today we are demonstrating how DuPont's unique scientific
capability provides solutions that are sustainable, renewable and matched to
real world needs. Biobutanol is just the beginning of new solutions DuPont can
offer to transform global economies by improving our use of renewable
ingredients and natural processes to deliver products for a better, safer,
healthier world."
"BP has a history of seeking, and delivering, ways to reduce greenhouse gas
emissions both from our own operations and from the products we sell," said Lord
Browne, chief executive officer of BP. "Transportation is an important area to
address since it accounts for around 20 per cent of global emissions and in the
short to medium term increased blending of biocomponents represents one of the
few real options for progress in this area on a global scale."
Both companies recognize that while existing biocomponents have proven to be an
excellent starting point for the introduction of biofuels and will continue to
play a role in the future, there are issues that need to be addressed to
increase market penetration. In particular, compatibility with existing fuel
supply and distribution systems, the ability to blend in higher concentrations
without requiring vehicle modifications, and fuel economy were identified as
areas where improvements are needed.
This next generation of biofuels will help deliver on these targets.
Biobutanol's low vapour pressure and its tolerance to water contamination in
gasoline blends facilitate its use in existing gasoline supply and distribution
channels. It has the potential to be blended into gasoline at larger
concentrations than existing biofuels without the need to retrofit vehicles and
it offers better fuel economy than gasoline-ethanol blends, improving a car's
fuel efficiency and mileage.
Biobutanol also enhances the performance of ethanol blends in gasoline by,
amongst other things, reducing ethanol's impact on vapour pressure, one of the
issues which hampers a wider use of ethanol in existing gasoline distribution
channels.
Initial production of biobutanol will be based on an existing technology,
enabling early commercial market introduction. In addition, development work on
a new biotechnology process which aims to produce biobutanol competitively with
ethanol is already underway. Production is planned to utilize a range of
feedstocks such as sugar cane or beet, corn, wheat, or cassava and, in the
future, cellulosic feedstocks from fast growing "energy crops" such as grasses
or agricultural byproducts such as straw and corn stalks. Since production of
biobutanol is similar to ethanol and uses similar feedstocks, existing ethanol
capacity can be retrofitted to produce biobutanol.
Like most biofuels, biobutanol will provide significant environmental benefits
over petroleum-derived transportation fuels, reducing overall environmental
emissions of greenhouse gases. Biofuels reduce the overall volume of carbon
dioxide emissions entering the atmosphere by absorbing carbon dioxide as
agricultural crops grow, while emitting roughly the same amount of carbon
dioxide as conventional fuels when they are burned. While greenhouse gases are
also generated in the production of biofuels, the net effect is still lower than
using conventional fossil fuels.
Notes to Editors:
- This partnership is consistent with DuPont's strategy to deliver
sustainable growth by increasing shareholder and societal value while reducing
the environmental footprint along the value chains where DuPont operates. To
implement this strategy, the company has conducted leading-edge biotechnology
research for more than 10 years. In 2003, the U.S. Environmental Protection
Agency presented DuPont with its annual "Presidential Green Chemistry Award" for
the company's research leading to the development of its first bio-based
product, Bio-PDOTM, a key ingredient in DuPontTM Sorona(R), the company's latest
polymer innovation. The partnership with BP extends the technological
capabilities demonstrated with Bio-PDOTM to an even larger and more urgent
market opportunity for biofuels.
- BP's decision to devote a significant level of resources into widening
the availability of biofuels is part of its strategy of identifying low carbon
or renewable fuels for the future. It follows on from the company's announcement
of BP Alternative Energy - a dedicated alternative energy business which is
active in solar, wind, hydrogen and combined-cycle-gas-turbine (CCGT) power
generation - and the establishment of a biofuels business within its Refining &
Marketing Business. The company also recently announced its intention to fund an
Energy Biosciences Institute attached to a major academic centre, the first such
facility of its kind in the world.
- DuPont is a science company. Founded in 1802, DuPont puts science to work
by creating sustainable solutions essential to a better, safer, healthier life
for people everywhere. Operating in more than 70 countries, DuPont offers a wide
range of innovative products and services for markets including agriculture,
nutrition, electronics, communications, safety and protection, home and
construction, transportation and apparel.
- BP is of one of the world's largest energy companies, providing its
customers with fuel for transportation, energy for heat and light, retail
services and petrochemicals products for everyday items. It is the largest oil
and gas producer in the U.S. and one of the largest refiners. BP also has a
global network of around 25,000 service stations.
Further information:
BP Press Office, London, UK, tel: +44 (0)207 496 4358
DuPont Press Office, Wilmington, Delaware, tel: +1 302 774 7447
Forward-Looking Statements: This news release contains forward-looking
statements based on management's current expectations, estimates and
projections. All statements that address expectations or projections about the
future, including statements about the company's strategy for growth, product
development, market position, expected expenditures and financial results are
forward-looking statements. Some of the forward-looking statements may be
identified by words like "expects," "anticipates," "plans," "intends,"
"projects," "indicates," and similar expressions. These statements are not
guarantees of future performance and involve a number of risks, uncertainties
and assumptions. Many factors, including those discussed more fully elsewhere
in this release and in DuPont's filings with the Securities and Exchange
Commission, particularly its latest annual report on Form 10-K, as well as
others, could cause results to differ materially from those stated. These
factors include, but are not limited to changes in the laws, regulations,
policies and economic conditions of countries in which the company does
business; competitive pressures; successful integration of structural changes,
including acquisitions, divestitures and alliances; research and development of
new products, including regulatory approval and market acceptance, and
seasonality of sales of agricultural products.
- ENDS -
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BP p.l.c.
(Registrant)
Dated: 20 June, 2006 /s/ D. J. PEARL
..............................
D. J. PEARL
Deputy Company Secretary