Rosneft Deutschland GmbH, a subsidiary of PJSC Rosneft Oil Company, has completed the deal to acquire a 3.57% stake in Bayernoil Raffineriegesellschaft mbH from British BP. As result of this deal, Rosneft increased its shareholding to 28.57% from 25%.

As a result of the deal 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”.

Notes:

Rosneft is the third 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 GmbH. This company manages both the supply of crude oil to the refineries, the shares of which belong to Rosneft (PCK Raffinerie GmbH, MiRO refinery, Bayernoil refinery), and sales of petroleum products.

Bayernoil refinery is located in the cities of Vohburg and Neustadt an der Donau in Bavaria, Germany. It supplies oil products to Bavaria and northern Austria. The capacity of the refinery amounts to 10.3 mtpa. Shareholders structure: Rosneft – 28.57%, Varo Energy – 51.43%, Eni – 20%.

About Rosneft

Rosneft is the leader of Russia’s petroleum industry and the world’s largest publicly traded petroleum company. Company’s main activities include prospecting and exploration of hydrocarbon deposits, oil, gas and gas-condensate production, upstream offshore projects, processing, as well as oil, gas, and product marketing in Russia and abroad. The Company is included in the list of strategic companies and organizations of Russia. Company’s largest shareholder (69.50% of the equity) is ROSNEFTEGAZ OJSC, fully owned by the Russian Government, while BP holds 19.75% of shares, one share belongs to the state represented by Federal Agency for State Property Management, whereas the remaining shares are free floating.