BP Completes Sale of German Refinery as Portfolio Overhaul Accelerates

BP completes sale of Gelsenkirchen refinery as overhaul continues

BP has completed the sale of its Gelsenkirchen refinery to ​investment firm Klesch Group, expecting about a $1 billion ‌reduction in underlying operating expenditure as the oil major simplifies its operations.

BP completes sale of German refinery, further simplifying portfolio (BP:NYSE)

BP said it completed the sale of its Gelsenkirchen refinery in Germany to Klesch Group, which it expects will reduce underlying operating expenditure by ~$1B as it simplifies its operations.

BP Completes Sale of German Refinery as Portfolio Overhaul Accelerates

BP has completed the sale of its refinery in Gelsenkirchen, Germany, to Klesch Group, as the UK supermajor continues to streamline its business and high-grade its portfolio under CEO Meg O’Neill. The transaction, whose sum was not disclosed, is part of BP’s continued focus on disciplined capital allocation and is also expected to lower the group’s underlying operating expenditure by around $1 billion, the supermajor said on Monday. “By concentra…

bp Strengthens Capital Discipline With Completed Sale of German Refinery Assets

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BP Completes Sale of German Refinery to Klesch

'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 completes sale of Gelsenkirchen refinery to Klesch Group

BP has completed the sale of Gelsenkirchen refinery, Germany, and related businesses to Klesch Group.