January 18, 2020 / 10:41 AM / a month ago

Russia's Rosneft ups its stake in Germany's Bayernoil refinery

MOSCOW, Jan 18 (Reuters) - Russian oil producer Rosneft said on Saturday that its German subsidiary Rosneft Deutschland GmbH had completed the deal to acquire a 3.57% stake in Germany’s Bayernoil Raffineriegesellschaft mbH from BP .

The deal increased Rosneft’s stake in the Bayernoil refinery to 28.57% from 25%, Rosneft said in a statement, adding that the deal also increased its share in the refinery’s capacity to almost 3 million tonnes a year and strengthened its marketing presence in Germany’s Bavaria and Austria. (Reporting by Polina Devitt; editing by Angus MacSwan)

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