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Air BP acquires fuel assets from Shell Brasil

Air BP announced that it had purchased from Shell Brasil Holding B. V. and Cosan S. A. Industria e Comercio several aviation fuel assets at seven airports in Brazil for R$185 million (US$100 million). The acquisition gives Air BP access to the airports and increased capacity at the existing Air BP facilities in Galeao and Brasilia. The deal is awaiting regulatory approvals and is expected to be finished in the first quarter of 2012. The agreement includes physical assets like storage tanks, vehicles and pipelines for into-plane refueling, which will allow Air BP to sell fuel directly to commercial airlines in new locations. “In addition to achieving strong growth in Air BP and Castrol lubricants, in 2008 we were the first international oil company to invest in Brazil’s biofuels industry and we recently took that investment total to well over US$1 billion through acquisitions,” said Tufan Erginbilgic, BP’s chief operating officer, refining and marketing. (December 16, 2011)