Rosneft increases its share in Bayernoil refinery

Moscow, January 20- Neftegaz.RU. Rosneft Deutschland has completed the deal to acquire a 3.57% stake in Bayernoil Raffineriegesellschaft from British BP. As result of this deal, Rosneft increased its shareholding to 28.57% from 25%.

The Company increased its share in the refinery capacity of the Bayernoil to almost 3 mtpa and strengthened its marketing presence both in one of the major German industrial regions, Bavaria, and in Austria.

Rosneft Deutschland is one of the leading petroleum products wholesalers of the Free state of Bavaria, carrying out, among other things, deliveries of Alphabit, Rosneft’s proprietary polymer modified bitumen, as well as aviation fuel to Munich airport.

Commenting on the deal closure Rosneft CEO Igor Sechin noted: “Since the beginning of asset management and oil product marketing activities in Germany in 2017, Rosneft is constantly growing its customer base. At the same time, the South of Germany and neighbouring countries are important regions of Rosneft’s business. Increasing share in Bayernoil refinery is a logical step that will contribute to further development of the Company’s business on European market”.

Rosneft is the 3rd largest player in the German oil refining market. The average refining conversion is 93%, Nelson’s complexity index – 9.1. Operating activities are carried out by a subsidiary of Rosneft Deutschland. This company manages both the supply of crude oil to the refineries, the shares of which belong to Rosneft (PCK Raffinerie, MiRO refinery, Bayernoil refinery), and sales of petroleum products.