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BP to sell German oil refinery as part of $20bn cost-cutting plan

Summary by The Guardian
Energy company plans full return to London by moving global HQ to new development on South BankBusiness live – latest updatesBP has agreed to sell its giant German oil refinery site in Gelsenkirchen to the investment firm Klesch Group as part of the British oil company’s plan to sell off $20bn (£15bn) worth of assets and cut its costs.The value of the sale was not disclosed but BP said it would save the oil company about $1bn of underlying opera…

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the Guardianthe Guardian
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BP to sell German oil refinery as part of $20bn cost-cutting plan

Energy company plans full return to London by moving global HQ to new development on South BankBusiness live – latest updatesBP has agreed to sell its giant German oil refinery site in Gelsenkirchen to the investment firm Klesch Group as part of the British oil company’s plan to sell off $20bn (£15bn) worth of assets and cut its costs.The value of the sale was not disclosed but BP said it would save the oil company about $1bn of underlying opera…

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the Guardian broke the news in on Thursday, March 19, 2026.
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