BP and Corteva have formed a 50:50 joint venture called Etlas to produce crop-based oils for sustainable aviation fuel (SAF) and renewable diesel. The venture aims to deliver one million metric tonnes of feedstock per year by the mid-2030s, with initial volumes expected to flow from 2027. Etlas will source feedstocks from a mix of dedicated energy crops and residual oils, leveraging BP’s refining and distribution network alongside Corteva’s seed-development expertise. The partners plan to invest in three processing facilities across the US Gulf Coast, each capable of handling up to 100,000 tonnes of oil annually, and are evaluating additional sites in Europe and Asia to scale production further.

Twenty-two analysts currently maintain a consensus Hold recommendation on BP, with an average one-year target price of 43.23, implying modest upside potential. Among these, three recommend Sell, eight recommend Hold, nine recommend Buy and two issue Strong Buy ratings. On January 6, Evercore ISI set a target of 38, reflecting a potential gain of approximately 5.2 percent. Piper Sandler raised its target from 41 to 44 while maintaining a Neutral rating, and Wells Fargo increased its target from 37 to 39 with an Equal Weight stance. Scotiabank reaffirmed its Outperform view, citing BP’s robust cash-flow generation and growing low-carbon portfolio as key drivers of long-term value.