BP (NYSE:BP) Dropping E10 in Queensland Because of Floods

BP (NYSE:BP) announced the extraordinary flooding in Queensland is forcing them to replace E10, or gasoline blended with ethanol, because of the enormous amount of flooding in the Australian state.

Starting on January 17, BP will replace E10 with Regular Unleaded 91. The ethanol supplier in Queensland announced it won't be able to continue their deliveries.

The gigantic Queensland, which is larger than the combined California and Texas, has 75 percent of its area declared a disaster zone.

Some parts of the state, including its capital, Brisbane, is experiencing its worst flooding since 1893, according to reports.