Published by Global Banking & Finance Review®
Posted on February 9, 2026
1 min readLast updated: February 9, 2026
Add as preferred source on GoogleBP is negotiating the sale of its Gelsenkirchen refinery to Klesch Group, part of its asset sale strategy. Klesch already owns refineries in Germany and Denmark.
FRANKFURT, Feb 9 (Reuters) - BP <BP.L> is in talks to sell its German oil refinery site in Gelsenkirchen to investment firm Klesch Group, news site Politico reported on Monday, citing two people familiar with the matter.
BP said about a year ago that it was looking to sell its Gelsenkirchen refinery and its mobility and convenience businesses in Austria, part of a broader asset sale plan.
At the time, BP said it was targeting a sales agreement for the Gelsenkirchen business, also known as Ruhr Oel GmbH - BP Gelsenkirchen, during 2025.
Klesch, which has offices in London and Geneva, owns the Heide Refinery in northern Germany and the Kalundborg Refinery in Denmark.
Klesch declined to comment. BP did not immediately respond to a request for comment.
(Reporting by Christoph Steitz in Frankfurt abd Shadia Nasralla in London, writing by Ludwig Burger, Editing by Miranda Murray)
A refinery is an industrial facility where crude oil is processed and transformed into useful products such as gasoline, diesel, and other petrochemicals.
An investment firm is a financial institution that manages investments on behalf of clients, providing services such as asset management, investment advice, and portfolio management.
Corporate strategy refers to the overall plan and direction a company takes to achieve its goals, including decisions on mergers, acquisitions, and resource allocation.
Market capitalization is the total market value of a company's outstanding shares of stock, calculated by multiplying the stock price by the total number of shares.
Explore more articles in the Finance category
