BP and Renault Sport Racing announced a new partnership which will see the global oil company join the recently reformed Renault Sport Formula One Team.
BP and Castrol, the oil company’s global lubricant brand, will provide fuels and lubricants for the upcoming Formula 1 season, which gets underway in Melbourne, Australia, in March.
“The return of BP and Castrol, brands with such strong heritage in motorsport, is very good news and opens new opportunities for our Formula 1 team,” said Jérôme Stoll, president of Renault Sport Racing. “BP’s commitment highlights the ongoing appeal of Formula 1 to major multinational companies. We are very proud and motivated to have a technical partner and sponsor of this caliber.”
Tufan Erginbilgic, BP Downstream’s chief executive said that the company is excited for the opportunity the partnership creates. Both sides, he added, can “work together to further our cutting edge fuel and lubricant technologies in the highly competitive world of Formula 1.”
New aerodynamic regulations introduced by Formula 1 for this year will see power sensitivity increase, said Cyril Abiteboul, managing director of Renault Sport Racing. “Therefore fuels and lubricants will make an even greater difference to the overall performance of the car than they have since the new power unit regulations have been introduced in 2014. The teams at BP and Castrol are very excited by the challenges offered by Formula 1 and we are confident they will help us achieve our ambitions for our new car in 2017 and beyond.”