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Russia’s Rosneft mulls opening gas station chain in Germany

The company's CEO Igor Sechin added that Rosneft, probably, will develop its own network

MAGADAN, July 22. /TASS/. CEO of Russia’s oil major Rosneft, Igor Sechin, said on Sunday he doesn’t rule out that his company may open a network of filling stations in Germany.

When asked by Russia’s Rossiya-1 television channel whether his company planned sell its oil products to Germany without go-betweens, he said, "As a matter of fact, we are doing that [selling our products to Germany] via networks of filling stations operated by our partners, whom we have a corresponding agreement with. They include BP, Total. But, probably, we will develop our own network."

According to earlier reports, Rosneft Deutschland (Rosneft’s subsidiary) singed a contract with German companies for the sales of its petrochemical products starting from 2019.

Rosneft is Germany’s third biggest oil refining market player, with aggregate capacity of 12.5 million tonnes a year, or 12% of Germany’s oil refining output.

Sechin also said that Rosneft does not plan to buy more assets, neither does it expect any changes in its shareholder structure in the near future.

"As for inorganic growth, we are through with basic purchases. Now we are focused on organic growth and synergies we relied upon when making those purchases," he said in an interview with the Rossiya-1 television channel.

"These are high-quality and efficient assets. Our basic task now is to further boost their efficiency," he said.

According to Sechin, the company’s shareholder structure is highly unlikely to be changed in the near future. "At this point, I think, the shareholder structure is finalized. No changes are expected," he noted.