BP (BP) is weighing its options for its Brazilian biofuels business, including potentially selling the unit, Bloomberg reported Monday, citing people familiar with the matter.

BP, which took control of the business in 2024 by paying $1.4 billion including debt for a 50% stake, no longer considers it core to its future strategy, the report said, citing the people.

Deliberations are in the early stages and no final decisions on a sale have been made, the people reportedly said.

BP didn't immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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