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Russia’s Rosneft acquires 49% stake in Petrocas Energy

December 29, 2014, 16:54 UTC+3
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MOSCOW, December 29. /TASS/. Russian oil major Rosneft will buy a 49% stake in Petrocas Energy Group controlled by billionaire Davis Iakobachvili, Rosneft said on Monday.

Petrocas Energy Group has a network of filling stations in Georgia, Armenia, Azerbaijan and Kazakhstan. The group also possesses two oil terminals in Georgia.

Rosneft and Petrocas Energy Group will establish logistics, retail joint venture in South Caucasus.

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