News Post
Rosneft to buy Total’s stake in German refinery
OAO Rosneft, Russia’s largest oil producer, agreed to buy Total’s 16.7% stake in PCK Raffinerie GmbH in Schwedt, Germany.
Rosneft is building holdings in
European refineries by buying plants supplied with Russian oil.
The Moscow-based company’s Ruhr Oel GmbH partnership with BP already holds 37.5% in the German plant, which is linked to Russia’s Druzhba pipeline.
Rosneft and Total are working on off-take agreements to supply Berlin markets, according to the statement.
No price details were disclosed.
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