bp has completed the sale of Gelsenkirchen refinery and related businesses to Klesch Group. The transaction supports bp’s continued focus on disciplined capital allocation and is also expected to lower underlying operating expenditure by around $1 billion.
bp agreed to sell its Gelsenkirchen refinery and related businesses in Germany to Klesch Group, advancing its strategy to streamline operations, strengthen finances, and support cost reductions targeting $6.5–$7.5 billion by 2027.
