The transaction includes the Gelsenkirchen refinery and Bottrop tank farm; DHC Solvent Chemie GmbH, a subsidiary; interests in logistics joint ventures; and marketing businesses related to petrochemicals and unbranded B2B fuels produced at the site. bp has agreed to offtake arrangements covering ground fuels, aviation fuel, and coke to maintain regional supply requirements.
Since becoming sole owner in 2017, bp has invested about $2 billion in modernization, including upgrades to steam and power infrastructure, distributed control systems, and tank farm and pipeline refurbishments.
Strategic context, timing
The acquisition expands Klesch’s European refining portfolio, which includes the Heide refinery in Germany and the Kalundborg refinery in Denmark.
For bp, the sale aligns with efforts to simplify its portfolio and strengthen its balance sheet. The company is targeting $6.5–7.5 billion in structural cost reductions by 2027, reflecting expected savings of about $1 billion in underlying operating expenditure associated with Gelsenkirchen. In fourth‑quarter 2025 results, bp said it had announced or completed more than $11 billion of its $20-billion divestment program for 2027 during 2025.
Subject to regulatory and governmental approvals, the transaction is expected to close in this year’s second half. The integrated complex employs about 1,800 people, all of whom, along with personnel supporting logistics and sales infrastructure, are expected to transfer to Klesch Group on completion.
