BP completes sale of Gelsenkirchen refinery to Klesch Group

Published Aug 3, 09:45 AM UTC

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BP has finalized the sale of its Gelsenkirchen refinery and related businesses in Germany to the independent refiner Klesch Group, a divestment first announced in March 2026 as part of BP's portfolio optimization strategy. Financial terms were not disclosed. The sale is expected to reduce BP's underlying operating expenditure by around $1 billion and is free cash flow accretive. The transaction includes the Horst and Scholven sites, an integrated refining and petrochemical hub, and the Bottrop tank farm. The refinery has a crude distillation capacity of approximately 265,000 barrels per day. Employees at the refinery have transferred to Klesch Group. Following the sale, BP's refining portfolio consists of five refineries in the US and Europe. For Klesch Group, the acquisition expands its German refining footprint, adding to the Heide refinery acquired from Shell in 2010.

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Yahoo FinanceWestern

Original headline: BP Completes Sale of Gelsenkirchen Refinery to Klesch Group

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BP Completes Sale of Gelsenkirchen Refinery to Klesch Group

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BP completes sale of Gelsenkirchen refinery to Klesch Group

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