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

 Russian oil producer Rosneft said 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.

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