August 2017

Columns

Global: Russian oil majors eye Western expansion

Amid declining profits in the domestic market, Russia’s national oil company and leading oil producer, Rosneft, is considering expanding in the European Union (EU) and US refining markets.

Gerden, E., Contributing Writer

Amid declining profits in the domestic market, Russia’s national oil company and leading oil producer, Rosneft, is considering expanding in the European Union (EU) and US refining markets. This expansion effort is expected to take place through the acquisition of new refineries, as well as the expansion of those already in operation. To accomplish these goals, Rosneft has plans to allocate up to $2.48 B through 2018, with the possibility of increasing these investments. FIG. 1. Aerial view of the 11-MMtpy Brandenburg PCK Raffinerie. Preparations for this investment plan began at the end of 2016 with the breakup of Ruhr Oel GmbH (ROG), a JV betw

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