BP to consider ACCC’s decision

BP acknowledges today’s announcement by the Australian Competition and Consumer Commission (ACCC) that it intends to oppose its proposed acquisition of Woolworths’ retail fuel business.

“We are disappointed by the news today from the ACCC. We remain confident that, with appropriate divestments as offered by BP, this transaction would not substantially lessen competition. In light of this, we are currently consulting with our lawyers to determine our next steps,” said BP Australia President Andy Holmes.

BP believes that this transaction and the partnership with Woolworths would bring a compelling new offer to Australian consumers that would transform convenience retailing in Australia. It would be the first of its kind for Australia’s growing convenience sector, bringing together BP’s quality fuels, Woolworths Rewards and a new range of high quality, fresh take-home food. BP has had great success rolling out similar offers with its partners in the UK, Germany, South Africa and other parts of the world.  

BP has operated in Australia for close to 100 years and is one of the nation’s most significant investors. Through our upstream and downstream businesses BP contributes to local economies, building infrastructure and creating jobs. BP believes that Australia is an exciting market and is absolutely committed to continuing to invest to bring our customers market-leading offers.

Further information

Contacts

Felicity Watson, BP Media Advisor, Felicity.Watson@bp.com, 0410 479 002

Notes to editors

• There are currently 1,400 BP branded fuel and convenience retail sites across Australia, of which approximately 350 are company-owned; the rest are branded BP but owned by independent business partners (they are not franchisees).
  
• BP is one of the largest suppliers of fuel to Australia’s industrial and commercial sector and one of Australia’s most significant investors, most visibly through our terminals, retail fuel sites and refinery, as founding participants in the North West Shelf and Browse joint ventures and operator of exploration permits in the Carnarvon Basin.
  
• We continue to invest in local economies, growing jobs and building infrastructure in metropolitan and regional Australia. BP currently employs more than 5,700 employees and long-term contractors across the country.
  
• For additional BP information and detailed fact sheets please visit the media centre at www.bp.com.au