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Home > Finance > BP's Gelsenkirchen refinery attracts buyer's interest from Klesch, Politico reports

BP's Gelsenkirchen refinery attracts buyer's interest from Klesch, Politico reports

Published by Global Banking & Finance Review®

Posted on February 9, 2026

1 min read

Last updated: February 9, 2026

BP's Gelsenkirchen refinery attracts buyer's interest from Klesch, Politico reports - Finance news and analysis from Global Banking & Finance Review

Tags:oil and gas investment asset management corporate strategy financial markets

Quick Summary

BP 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.

Klesch Group Expresses Interest in BP's Gelsenkirchen Refinery Sale

BP's Gelsenkirchen Refinery Sale Overview

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.

Details of the Sale Negotiations

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.

Klesch Group's Refinery Portfolio

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.

BP's Broader Asset Sale Strategy

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)

Key Takeaways

•BP is in talks to sell its Gelsenkirchen refinery.
•Klesch Group is interested in acquiring the refinery.
•The sale is part of BP's broader asset sale strategy.
•Klesch owns refineries in Germany and Denmark.
•BP aims for a sales agreement by 2025.

Frequently Asked Questions about BP's Gelsenkirchen refinery attracts buyer's interest from Klesch, Politico reports

1What is a refinery?

A refinery is an industrial facility where crude oil is processed and transformed into useful products such as gasoline, diesel, and other petrochemicals.

2What is an investment firm?

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.

3What is corporate strategy?

Corporate strategy refers to the overall plan and direction a company takes to achieve its goals, including decisions on mergers, acquisitions, and resource allocation.

4What is market capitalization?

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.

BP's Gelsenkirchen Refinery Sale Overview

Details of the Sale Negotiations

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.

Klesch Group's Refinery Portfolio

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.

BP's Broader Asset Sale Strategy

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)

Frequently Asked Questions

1What is a refinery?

A refinery is an industrial facility where crude oil is processed and transformed into useful products such as gasoline, diesel, and other petrochemicals.

2What is an investment firm?

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.

3What is corporate strategy?

Corporate strategy refers to the overall plan and direction a company takes to achieve its goals, including decisions on mergers, acquisitions, and resource allocation.

4What is market capitalization?

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.