Renault has confirmed its partnership with US-based oil giant BP, ending its long-time association with Total.
BP will supply fuel and lubricants to Renault in a five-year deal that goes through to 2021.
As part of the agreement, logos of two BP brands, BP Ultimate and Castrol Edge, will appear of Renault’s Formula 1 cars and team overalls.
“With the new aerodynamic regulations for the 2017 Formula 1 season, power sensitivity will increase. 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,” said Cyril Abiteboul, Managing Director, Renault Sport Racing.
“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.”
“The vision that Renault has to be the best team in Formula 1 is something we at Castrol, and across BP, are proud to be a part of,” said Mandhir Singh, COO, BP Lubricants. “Joining the team at this point means we can work together on innovative solutions and be part of creating new success stories.”
The two companies last collaborated in 1997, when Jacques Villeneuve romped to the drivers' title in a Renault-powered Williams.
BP is also expected to announce a similar agreement with McLaren-Honda for the upcoming Formula 1 season.
The American company is keen on rebuilding its image after the Deepwater Horizon oil spill in the Gulf of Mexico that tarnished its reputation and led to fines and penalties totalling over $40 billion.
by Rachit Thukral