At the start of the year, the group said that the 890,000-square-meter site’s more than 70 storage tanks for liquid oil products and LPG (propane, butane) as well as logistics infrastructure were up for sale. The latter refers to three jetties for ocean-going vessels, two jetties for mooring nine inland barges and a loading rack for road tankers.

“BP has been reviewing its strategic options and has determined that it would be in the interests of the BP Amsterdam Terminal to be owned by an entity which is better placed to invest in its future,” spokeswoman Jacoline Poldervaart said in an e-mailed response to questions.

“A review of our portfolio revealed we could simplify our business by selling the terminal and moving the storage needs to facilities owned by third parties, rather than us running our own facility which requires ongoing investment.”

“The sales process is still ongoing,” she added. “We expect the sale to be completed by the end of 2015.”

The pending asset sale at Amsterdam is part of an extensive disposal program, which has seen BP also putting various U.S. terminals and assets at the port of Rotterdam (Pernis) on the block and offloading its equity stake in a U.K. offshore wet gas pipe system (CATS), besides others.

In its latest quarterly trade update, BP said it reached $7.1 billion of its $10 billion divestment target set in October 2013 for the period through 2015. The group is saddled with hefty liabilities related to the Gulf of Mexico oil spill in 2010, incurring $43.8 billion in cumulative pre-tax charges by the end of the first quarter, based on company figures.

The Amsterdam terminal is currently used by BP, according to the spokeswoman.

“The region is very strategic for BP, and we intend to continue our trading and retail business here,” she said. “We are reviewing various options for supply.”

At a recent refining conference in the Netherlands, unconfirmed rumors surfaced about an oil major facing the threat of a buyout.