By Ian Walker

BP PLC said Monday that it is investing $269 million in three projects at its Cherry Point refinery in Washington state, as part of the oil major's plan to become net zero by 2050.

The company said it expects to reduce the refinery's carbon-dioxide emissions by 160,000 metric tons a year and its double capability to produce renewable diesel while improving efficiency.

BP said the projects are expected to lead to more than 300 new local jobs over the next three years.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

October 04, 2021 09:45 ET (13:45 GMT)

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