MOSCOW (Sputnik) — Rosneft and Total have completed a transaction to sell a 66.7 percent stake in AET-Raffineriebeteiligungsgesellschaft to Rosneft, including a 16.7 percent stake in the refinery Raffinerie GmbH in Schwedt, Germany, Rosneft said in a statement.
“Together with the ongoing reorganisation of Ruhr Oel GmbH (ROG), the purchase of the 16.7 percent effective stake in Raffinerie GmbH will allow Rosneft to consolidate its positions in the Berlin/Brandenburg region and to generate additional synergy for the company through direct oil deliveries via the Druzhba (Friendship) pipeline,” the press release notes.
The refinery Raffinerie GmbH was established in 1958 in Schwedt. Later, the newly-completed Druzhba trunk pipeline began delivering crude oil to the company. Currently, the refinery processes about 11.5 million tonnes of oil annually. Major shareholders include ROG (37.5 percent), Shell (37.5 percent), Total (16.7 percent) and Eni (8.3 percent). In 2014, Rosneft delivered about 20.3 million tonnes of crude oil to Germany, which accounted for almost 25 percent of German oil imports.
In May 2011, Rosneft bought a 50 percent stake in Germany’s ROG that owns stakes in four national refineries (Gelsenkirchen, 100 percent; Bayernoil, 25 percent; MiRO, 24 percent and Raffinerie GmbH, 37.5 percent), as well as stakes in five supply oil-pipelines and several oil-tanker terminals in the North, Baltic, Mediterranean and Adriatic seas. BP Europa SE is a Rosneft partner in the ROG joint venture on a parity basis. ROG leads the way in terms of German oil-refining volume (21 million tonnes in 2014).
