Feb 6 (Reuters) - BP (BP.L) , opens new tab on Thursday said BP Europa SE will seek potential buyers for its German refinery assets.

BP in March 2024 announced its plans to reduce the crude processing capacity of the country's Gelsenkirchen oil refinery by around one-third from 2025 due to a weaker demand outlook.

Other global players in January offered little optimism in a near-term improvement in refinery profits after they were hit hard by a downturn in the margins for producing fuel.

The oil giant intends to start the marketing process of Ruhr Oel GmbH – BP Gelsenkirchen and associated refinery assets immediately with sales agreements targeted for 2025.

The Gelsenkirchen refinery, built in 1935, includes two plants and a petrochemical site, and has a processing capacity of around 12 million tonnes of crude oil per year.

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https://www.reuters.com/business/energy/bp-seek-buyers-german-refinery-assets-2025-02-06/