BP to sell refinery and petrochemical assets in Gelsenkirchen, Germany

According to a press release on the company’s website, BP plans to sell its integrated petrochemical refinery complex in Gelsenkirchen, Germany. The company’s subsidiary BP Europa SE has announced plans to sell Ruhr Oel GmbH – BP Gelsenkirchen and its associated refinery assets as part of the company’s strategy to streamline operations and enhance value.

The marketing process will start immediately, with sales agreements expected in 2025. The completion of the sale will depend on regulatory and governmental approvals. The refinery in Gelsenkirchen and DHC Solvent Chemie GmbH in Mülheim an der Ruhr will continue operating during the sale process.

According to ChemOrbis Production News Pro, the company operates two crackers with a combined capacity of 1.65 million tons/year of ethylene and 635,000 tons/year of propylene in the Gelsenkirchen complex.

BP’s decision to sell its Gelsenkirchen assets comes amid weak ethylene margins and disappointing derivative demand in Europe. High operating costs have already led companies like ExxonMobil, Sabic, and Versalis to shut down or plan the closure of some crackers in the region.