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Rosneft spends €600m on upgrading of its refineries in Germany

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Rosneft spends €600m on upgrading of its refineries in Germany

Over the course of 5 years, Rosneft, a Russian oil company, will spend €600 million on the modernization of its refineries in Germany, of which €300 million has already been allocated, Rambler News reports on Thursday with the reference to the head of Rosneft, Igor Sechin.

According to the company, Rosneft has increased oil supplies to Germany from 12,9 million tons in 2012 to 22, 5 million tons in 2016. Last year, the volume of oil processing at refineries in Germany increased by 17.8%, up to 12,7 million tones. The company produced 13,7 million tons of oil products (80% account for light oil) that demonstrates operational excellence and technological equipment of processing facilities.

Rosneft has a 25-percent stake in Bayernoil oil refinery; 24% in MiRO refinery; and 54.17% in PCK refinery.

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