BP plc (BP) plans to reduce the crude processing capacity of its Gelsenkirchen oil refinery in Germany by approximately one-third from 2025, citing a subdued demand outlook, on Wednesday, per a Reuters report. The decision to reduce capacity comes against the backdrop of mounting challenges faced by European refiners, including stringent environmental regulations, intensifying overseas competition and the surge in electric vehicle sales. Speaking at the CERAWeek energy conference, Amber Russell, the head of ...