Oil company BP has extended its relationship with the Renault F1 team for another five years as part of a wider deal with the Renault-Nissan-Mitsubishi Alliance.
BP Castrol started work with Renault last year, replacing Total as the team's fuel and oil supplier. The new deal came after a meeting between Renault Chairman and CEO Carlos Ghosn and BP Group Chief Executive Bob Dudley and will see the relationship extend beyond a supply contract in Formula One.
Jérôme Stoll, president of Renault Sport Racing, said: "We are tremendously proud to announce this significant strengthening of our relationship with BP Castrol after laying strong and stable foundations together in 2017. BP and Castrol are at the cutting edge in their respective fields and a partnership of this scope, breadth and duration highlights the intents and goals of both parties."
Tufan Erginbilgic, CEO BP Downstream, added: "We look forward to our continued relationship in Formula 1 and to exploring a wider global co-operation with the Renault-Nissan-Mitsubishi Alliance including the further joint development of advanced mobility solutions and new technologies. The automotive landscape is changing faster than ever before and BP is committed to remaining a leader in the development and marketing of fuels and lubricants.
"This partnership enables us to combine the excellent skills and knowledge across both organizations to tackle the challenges and explore the opportunities of this rapidly evolving market."