BP extends wide-ranging deal with Renault F1 team

Multinational oil and gas company BP has extended and expanded a partnership with Formula One motor-racing team Renault.

The renewed deal will run for five years, with BP to continue to support the team in development efforts on and off the track.

BP and its lubricant brand Castrol will also collaborate with Renault F1 on the development of advanced mobility solutions and new technologies away from Formula One.

Renault F1 began working with BP and Castrol in the 2017 season.

Jérôme Stoll, president of Renault Sport Racing, said: “BP and Castrol are at the cutting edge in their respective fields and a partnership of this scope, breadth and duration highlights the intents and goals of both parties.”

Tufan Erginbilgic, chief executive of BP Downstream, added: “The automotive landscape is changing faster than ever before and BP is committed to remaining a leader in the development and marketing of fuels and lubricants.

“This partnership enables us to combine the excellent skills and knowledge across both organisations to tackle the challenges and explore the opportunities of this rapidly evolving market.”