(Reuters) – BP has decided to halt plans to produce clean jet fuel at its Castellon oil refinery in Spain, Bloomberg News reported on Tuesday, citing a person familiar with the matter.
The decision to pause the biofuel investment was driven by weaker-than-anticipated growth in the market, the report said.
BP did not immediately respond to a Reuters request for comment.
In February, BP unveiled plans to increase its oil and gas investments and slash spending on renewables, as part of its efforts to boost returns and improve financial performance.
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Devika Syamnath)
