BP and Groupe Renault, through Renault Sport Racing, have today announced a significant strengthening of their relationship, which will see the global energy company continue its support of the Renault Sport Formula One Team for at least the next five years and explore new opportunities to work globally with the Renault-Nissan-Mitsubishi Alliance.
Building on their first season together, and a successful meeting between Renault Chairman and CEO Carlos Ghosn and BP group chief executive Bob Dudley during which they shared their vision for the future, BP, Castrol and Renault Sport Formula One Team will collaborate in a number of areas, both on and off the track. In addition to the fuel and lubricants supply by BP Castrol, the partnership will go beyond Formula 1 and see the partners collaborate on the joint development of advanced mobility solutions and new technologies.
BP and Castrol are the official fuel and lubricant provider for the Renault Sport Formula One Team. Castrol also supplies lubricants to the team’s Enstone technical centre and Renault Sport Racing’s Viry-Châtillon engine operations base.
The BP and Castrol brands will continue to be seen on the team’s Formula 1 livery, including the 2018 R.S.18 car which will be unveiled online on February 20.
BP press office, London: +44 (0)20 7496 4076, email@example.com
RENAULT SPORT RACING: For more than 115 years, motorsport has constituted an integral element of Renault’s DNA. In Formula One, Renault has started more than 600 races and clinched 11 Drivers’ titles, 12 Constructors’ crowns and no fewer than 173 grand prix victories.
In 2016, spurred on by this illustrious track record and eager to reaffirm its commitment to the sport, Renault launched an all-new entity encompassing all of the brand’s motorsport activities – Renault Sport Racing – and another to manage the development and sale of the Renault Sport Cars portfolio. The key objectives were to promote the company’s passion for motorsport to a wider audience while maximising the technological synergies between its racing and rally and its road-going sports models. As of February 2016, Renault Sport Racing controls and co-ordinates all of Renault's motorsport activities, from Formula One and Formula E, to the Renault Sport Series.Now under the same overall management to cover the staff and facilities at the company's two key sites at Viry Châtillon in France and Enstone in the UK, Renault Sport Racing firmly reinforces Renault's commitment to the motorsport.
In order to utilize the ‘safe harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995 (the ‘PSLRA’), BP is providing the following cautionary statement. This press release contains certain forward-looking statements concerning BP’s plans and expectations with respect to BP’s relationship with Renault Sport Racing including with respect to the Renault Sport Formula One Team and the Renault-Nissan-Mitsubishi Alliance. Actual results may differ from those expressed in such statements, depending on a variety of factors including changes in public expectations and other changes to business conditions; the timing, quantum and nature of divestments; the receipt of relevant third-party and/or regulatory approvals; future levels of industry product supply; demand and pricing; OPEC quota restrictions; PSA effects; operational problems; regulatory or legal actions; economic and financial conditions generally or in various countries and regions; political stability and economic growth in relevant areas of the world; changes in laws and governmental regulations; exchange rate fluctuations; development and use of new technology; the success or otherwise of partnering; the actions of competitors, trading partners and others; natural disasters and adverse weather conditions; wars and acts of terrorism, cyber-attacks or sabotage; and other factors discussed under “Principal risks and uncertainties” in the results announcement for the period ended 30 June 2017 and “Risk factors” in our Annual Report and Form 20-F 2016.