BP just sold its Gelsenkirchen refinery in Germany to the Klesch Group, slashing $1 billion in operating costs and trimming its global refinery count to five. The deal includes major refining and petrochemical assets processing 12 million tonnes of crude annually, with all workers transitioning smoothly to Klesch. BP remains active in Germany through its Aral gas stations, while Klesch expands its footprint across Europe. The move signals BP’s strategy to focus on core operations, with financial impacts expected in Q2 reports.
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