BP Agrees to Divest Gelsenkirchen Refinery Assets to Klesch Group [Yahoo! Finance]
Archrock, Inc. (AROC)
Last archrock, inc. earnings: 2/19 07:16 pm
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Source: Yahoo! Finance
Gelsenkirchen refinery and its associated businesses to Klesch Group, an independent refiner in Europe. The financial details of the transaction have not been disclosed. The sale of the Gelsenkirchen refinery in Germany is part of BP's strategy to reduce costs and further simplify its portfolio. Structural Cost Reduction Targets for 2027 BP noted that, with the sale of the refinery assets, it has now raised its structural cost-reduction target to $6.5-$7.5 billion by 2027. This includes approximately $1 billion of expected savings in the underlying operating expenses of Gelsenkirchen refinery assets. BP has now increased its cost-reduction target for the second time since announcing its strategic reset in February 2025. The company had initially targeted $4-$5 billion in structural cost reduction, which was later raised to $5.5-$6.5 billion following a strategic review of its lubricant business, Castrol, in February 2026. This has now been further increased to $6.5-$7.5 billion, r
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AROC
Earnings
- 2/24/26 - Beat
AROC
Sec Filings
- 3/17/26 - Form DEFA14A
- 3/17/26 - Form DEF
- 3/5/26 - Form 4
- AROC's page on the SEC website