Rosneft increases its share in Bayernoil refinery

Rosneft Deutschland, a subsidiary of Russian oil giant, has completed the deal to acquire a 3.57% stake in Bayernoil Raffineriegesellschaft from British BP, Rosneft said on 17 January, adding that as result of this deal, Rosneft increased its shareholding to 28.57% from 25%.
As a result of the deal, Rosneft increased its share in the refinery capacity of the Bayernoil to almost 3 million tonnes per annum and strengthened its marketing presence both in one of the major German industrial regions, Bavaria, and in Austria, Rosneft said.
“Since the beginning of asset management and oil product marketing activities in Germany in 2017, Rosneft is constantly growing its customer base, Rosneft CEO Igor Sechin said. “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,” he added.
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.
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, which manages both the supply of crude oil to the refineries, the shares of which belong to Rosneft (PCK Raffinerie, 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 million tonnes per annum. Shareholders structure: Rosneft – 28.57%, Varo Energy – 51.43%, Italy’s ENI – 20%.