BP Completes Sale of Gelsenkirchen Refinery to Klesch Group

3-line summary

• BP completed the sale of its Gelsenkirchen refinery and related businesses in Germany to independent refiner Klesch Group, finalizing a divestment first announced in March, according to the report.
• The sale is expected to reduce BP's underlying operating expenditure by around $1 billion; the refinery has crude distillation capacity of about 265,000 barrels per day, per the report.

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