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BP PLC on Thursday said it bought Getec Energie GmbH, a supplier of energy to commercial and industrial customers in Germany.
The London-based oil major said it will now supply gas and power directly to commercial and industrial customers in the countries where Getec Energie is active, predominantly in Germany, and also in the Netherlands, Austria, Belgium and Poland.
The companies did not disclose financial details.
Getec Energie supplies about 40 terawatt hours of power and gas per year, supplying over 100,000 gas and power meters directly.
Elaine Skinner-Reid, BP’s senior vice president at gas & power trading international, said: ‘By integrating Getec Energie into our business, we are taking a further step in BP’s strategy to become an integrated energy company and grow the value of BP.’
BP shares fell 2.9% to 431.80 pence each on Monday afternoon in London.
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