Stake in Ruhr Oel GmbH
In October 2010 Rosneft reached an agreement with the Venezuelan national oil company (PDVSA) on acquisition of 50% of Ruhr Oel GmbH for USD 1.6 bln (not including working capital).
Ruhr Oel GmbH owns stakes in four refineries in Germany (Gelsenkirchen – 100%; Bayernoil – 25%; MiRO – 24%, and PCK Schwedt – 37.5%.), and in five supply pipelines and sea terminals in the North Sea, Baltic Sea, Mediterranen Sea and Adriatic Sea.
Ruhr Oel GmbH (ROG) JV is a leader in the German market in terms of refining throughput, sales of motor fuels and petrochemical products. The conversion rate is above 95%.
- ¹ 1 in Germany in terms of total refining capacity – above 21.0 mln tons in 2014 (including Rosneft’s share of 10.6 mln tons);
- A leader in the ethylene and propylene markets in Germany and in Europe;
- One of the leading global companies producing solvents.
The primary goal of the Company consists in ensuring sustainable profitability of refining operations at ROG refineries. To this end, Rosneft in cooperation with its partner BP, which is in turn a major shareholder in Rosneft, implements a comprehensive program aimed at increasing the efficiency of the refining and petrochemicals business, reducing ROG refineries costs, and developing business in Germany.
In 2014, the total volume of crude oil supplied by Rosneft and Rosneft Trading S.A. to Germany for processing, including for other ROG refineries’ shareholders, amounted to 21.3 mln tons, or nearly 25% of crude oil imported to Germany.
|
