Bp Announces Investment In Cherry Point To Reduce Refinery's Carbon Dioxide Emissions

(RTTNews) - bp (BP.L, BP_UN.TO, BP) announced plans for a $269 million investment in three projects at its Cherry Point Refinery in Washington state. The company said this investment will position it to provide lower carbon energy while creating jobs and reducing emissions in operations. This investment also include Renewable Diesel Optimization project, a $45 million investment that will more than double the refinery's renewable diesel production capability to an estimated 2.6 million barrels a year.

bp estimates to reduce refinery's operational carbon dioxide emissions by approximately 160,000 tons per year, or seven percent. The investment is aligned with the company's plans to be net zero across operations by 2050 or sooner.