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Russia's Rosneft closes deal to purchase 16.67% stake in Schwedt refinery from Total

December 01, 2015, 12:40 UTC+3
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MOSCOW, December 1. /TASS/. Rosneft and Total closed the deal for selling 66.67% interest in AET-Raffineriebeteiligungsgesellschaft Schwedt, which represents a 16.67% effective interest in the refinery in Schwedt, Germany (PCK Raffinerie GmbH), Rosneft said Tuedsay.

"This transaction is an organic element of the Rosneft strategy, aimed at expanding its presence in key markets in Europe and to advancing the value chain. However, together with the ongoing reorganization of Ruhr Oel GmbH, the acquisition of a 16.67% effective interest in PCK Raffinerie GmbH would allow Rosneft to strengthen its position in the region of Berlin/Brandenburg, creating additional synergies for the company due to the direct supply of oil through the pipeline "Druzhba"," the company’s statement said.

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