By James Marson
MOSCOW--Russian state oil giant OAO Rosneft (ROSN.MZ) Friday
said it had signed a deal to acquire a 16.7% stake in the PCK
Raffinerie GmbH oil refinery from Total SA (TOT), which is located
in Schwedt, Germany.
Rosneft owns 50% of Ruhr Oel GmbH, which in turn owns 37.5% of
the plant, giving the two companies control of almost 55% of the
refinery's ownership, Rosneft said. Royal Dutch Shell PLC (RDSA.LN)
owns 37.5% and ENI SpA (ENI.MI) owns 8.3%.
Rosneft Chief Executive Igor Sechin signed the deal Friday with
Total CEO Patrick Pouyanne. Rosneft said in a statement that the
deal represents "a deepening of the energy partnership between
Russia and Europe."
"As for Rosneft, this deal means a strengthening of its position
in one of Europe's most efficient and effective refineries and an
opportunity to serve the end-customers in its most important
market," Mr. Sechin was quoted as saying in the statement.
Rosneft, through Ruhr Oel GmbH, owns stakes in four other German
refineries.
Write to James Marson at james.marson@wsj.com
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