Rosneft to Invest up to 600 mln Euros into German Projects over 5 Years

Related Articles

Russia is Bringing back Refining Capacity Hit by Ukrainian Drones

3 days ago

Russia’s Offline Oil Refining Capacity Reaches 14%

3 weeks ago

U.S. has Urged Ukraine to Stop Attacks on Russian Refineries

4 weeks ago

Russian state-owned oil company Rosneft plans to invest at least 600 million euros in the development of projects in Germany in five years. the company’s CEO Igor Sechin told a press conference.

`Rosneft considers investments in segments of gas stations. jet fuel supply and delivery of German oil products to neighboring countries. In the next five years. Rosneft plans to invest in the development of business in Germany at least 600 million euros. Rosneft has already invested almost 2 billion euros in oil processing.` Sechin said.

According to him. in 2017. Rosneft supplied 21 million tonnes of oil to Germany and deliveries for the last 8 years totaled 153 million tonnes.

In particular. in 2014. Rosneft supplied 21 million tonnes to Germany. in 2015 – 21.5 million tonnes. in 2016 – 22.5 million tonnes.

In 2016. the volume of oil refining at the company’s refinery in Germany increased by 17.8% to 12.7 million tonnes. The refinery produced 13.7 million tonnes of oil products (80% – light oil products).

In December 2016. Rosneft and British BP completed the deal to dismantle the Ruhr Oel GmbH (ROG) refinery and petrochemical joint venture (JV) in Germany. As a result of that restructuring. Rosneft increased its stakes in several refineries in Germany: in Bayernoil – up to 25% (from 12.5%). in MiRO – to 24% (from 12%). in PCK – to 54.17% (from 35.42%).