02:25 AM EDT, 08/03/2026 (MT Newswires) -- BP (BP.L) completed the sale of its refinery and related businesses in Gelsenkirchen, Germany, to independent refiner Klesch Group, according to a Monday release. The sale included an integrated refining and petrochemical hub and the Bottrop tank farm. The London-listed energy company expects the transaction to reduce $1 billion from its underlying operating expenditure, in line with its capital allocation strategy. Following the sale, BP retained ownership of five refineries dedicated to its downstream business across the US and Europe.

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