Rosneft Completes Deal to Become BP's Partner in Ruhr Oel

Oil company Rosneft (Moscow) has completed the previously reported $1.6-billion acquisition of Petroleos de Venezuela's 50% stake in refining and petrochemicals joint venture Ruhr Oel (Gelsenkirchen, Germany). Rosneft becomes BP's equal partner in the Ruhr Oel jv. Ruhr Oel owns an integrated refinery and petrochemicals complex at Gelsenkirchen. BP operates the Gelsenkirchen complex, which has capacity for about 1 million m.t./year of ethylene, and makes aromatics and methanol. Ruhr Oel has minority stakes in refineries at Karlsruhe and Schwedt, Germany, and in...

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