Russian state oil giant Rosneft has acquired Shell’s minority stake in the 230,000 b/d PCK Schwedt refinery in northeastern Germany, boosting its downstream footprint in Europe’s biggest economy where it will become the second-biggest refiner. Rosneft said Nov. 17 it has exercised its preemption right for a 37.5% share of the Schwedt refinery being sold by Shell, in a move set to increase its shareholding in the plant from 54.17% to 91.67%.
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