reuters.com

BP Completes Sale of Gelsenkirchen Refinery to Klesch as Divestment Plan Continues

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Sig2.74Sen+2.40Env-0.28Soc+0.20Gov+0.73

BP says it has completed the sale of its Gelsenkirchen refinery to Klesch. The undisclosed deal transfers associated assets and liabilities, adding to free cash flow and supporting BP’s $20bn divestment plan to cut debt. Proceeds help lift its structural cost-reduction target to $6.5bn–$7.5bn by 2027; the refinery processes about 12m metric tons of crude annually.

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