Conventional natural gas and oil production is rising, but BP plc hasn’t taken its foot off of driving transitional energy investments after slapping down $1.3 billion in cash to buy TravelCenters of America (TA). 

rng supply graph

BP’s news Thursday came one day after announcing it would invest $1 billion in U.S. electric vehicle (EV) charging sites by 2030. In the United States, BP is building out wind and solar projects, and it’s funding biofuels/renewable natural gas (RNG) and hydrogen prospects. 

Biofuels/RNG is one of the five strategic transition growth engines that BP plans to expand through this decade.

“This is BP’s strategy in action,” CEO Bernard Looney said. “We are doing exactly what we said we would, leaning into our transition growth engines. This deal will grow...