BP, D1 Oils form global joint venture

D1 Oils, a U.K.-based producer of biodiesel, has entered into a 50-50 joint venture with BP Plc, the U.K.-based oil major, to plant jatropha in 1 million hectares of land in India over a period of four years. BP will invest £31.75 million (US$64.6 million) as working capital in this new venture from its equity. The five-year period requires a total investment of about £80 million (US$162 million). The production of biodiesel from jatropha oil is scheduled to commence in 2008. (June 30,2007)