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BP PLC on Thursday said BP Europa SE intends to market Ruhr Oel GmbH - BP Gelsenkirchen and associated refinery assets.
The London-based oil major noted BP Europa announced its intention to market the operation in Germany for potential sale, with the marketing process for a suitable buyer beginning immediately with sales agreements targeted for 2025.
Patrick Wendeler, chief executive of BP Europa said: ‘With significant investments, we have been able to substantially modernise our site in recent years. Due to its current production capabilities and its location in the heart of Europe and particularly within the chemical cluster of North Rhine Westphalia it offers significant potential to a new owner supported by a highly qualified team.’
BP shares rose 2.7% to 435.40 pence each on Thursday afternoon in London.
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