ID :
146215
Sat, 10/16/2010 - 20:22
Auther :
Shortlink :
http://m.oananews.org//node/146215
The shortlink copeid
Putin hails deal to acquire 50-% stake in Ruhr Oel.
NOVO-OGARYOVO, October 16 (Itar-Tass) - Russian Prime Minister
Vladimir Putin hailed the deal between Rosneft and Petroleos de Venezuela
S.A. ("PDVSA") enabling the Russian company to acquire a 50 percent stake
in Ruhr Oel GmbH. Speaking at a meeting with visiting Venezuelan President
Hugo Chavez on Friday, Putin said he was happy to see that things
progressed as far as assets swap. "I mean Russian companies' acquiring
stakes in third countries' companies, i.e. in Germany. I believe it's an
absolutely correct decision from the point of view of logistics - to
supply raw materials through the existing pipeline systems and by sea."
Earlier on Friday, Rosneft of Russia and Petroleos de Venezuela S.A.
(PDVSA), signed an agreement on Rosneft buying a 50-percent stake in Rurh
Oel from PDVSA. The document was signed in the presence of Russian
President Dmitry Medvedev and Venezuelan President Hugo Chavez.
The deal is worth 1.6 billion, not counting the reserves of raw
materials and accounts receivable belonging to PDVSA, which will be valued
at closing, Rosneft said in a press release.
According to Rosneft president Eduard Khudainatov, "this transaction
is the first step for Rosneft towards implementing the mapped out strategy
to enter the key international markets."
"As a result of the transaction, 18 percent of the company's
processing capacities will be located in the very center of the industrial
Europe. Rosneft will boost Ruhr Oel's positions thanks to its resource
base, while our oil refining and petrochemical business will acquire
state-of-the-art technologies and advanced European experience," he noted.
For his part, Deputy Prime Minister Igor Sechin underlined that
Rosneft's acquisition of a 50-percetn stake in Germany's Ruhr Oel from
Venezuela's PDVSA will boost the company's oil refining volumes by 11.2
million tons.
"These are four refineries in Germany with a total output at 20
million tons of oil a year. Rosneft thus gets 50 percent of these assets
and boosts the volume of refined oil by 11.2 million tons," Sechin said.
"It's not bad, especially because they have transport infrastructure.
The pipe reaches a number of plants. We believe it's a good transaction,
as it takes into account the interests of Russia and Venezuela," the
deputy premier stated.
Vladimir Putin hailed the deal between Rosneft and Petroleos de Venezuela
S.A. ("PDVSA") enabling the Russian company to acquire a 50 percent stake
in Ruhr Oel GmbH. Speaking at a meeting with visiting Venezuelan President
Hugo Chavez on Friday, Putin said he was happy to see that things
progressed as far as assets swap. "I mean Russian companies' acquiring
stakes in third countries' companies, i.e. in Germany. I believe it's an
absolutely correct decision from the point of view of logistics - to
supply raw materials through the existing pipeline systems and by sea."
Earlier on Friday, Rosneft of Russia and Petroleos de Venezuela S.A.
(PDVSA), signed an agreement on Rosneft buying a 50-percent stake in Rurh
Oel from PDVSA. The document was signed in the presence of Russian
President Dmitry Medvedev and Venezuelan President Hugo Chavez.
The deal is worth 1.6 billion, not counting the reserves of raw
materials and accounts receivable belonging to PDVSA, which will be valued
at closing, Rosneft said in a press release.
According to Rosneft president Eduard Khudainatov, "this transaction
is the first step for Rosneft towards implementing the mapped out strategy
to enter the key international markets."
"As a result of the transaction, 18 percent of the company's
processing capacities will be located in the very center of the industrial
Europe. Rosneft will boost Ruhr Oel's positions thanks to its resource
base, while our oil refining and petrochemical business will acquire
state-of-the-art technologies and advanced European experience," he noted.
For his part, Deputy Prime Minister Igor Sechin underlined that
Rosneft's acquisition of a 50-percetn stake in Germany's Ruhr Oel from
Venezuela's PDVSA will boost the company's oil refining volumes by 11.2
million tons.
"These are four refineries in Germany with a total output at 20
million tons of oil a year. Rosneft thus gets 50 percent of these assets
and boosts the volume of refined oil by 11.2 million tons," Sechin said.
"It's not bad, especially because they have transport infrastructure.
The pipe reaches a number of plants. We believe it's a good transaction,
as it takes into account the interests of Russia and Venezuela," the
deputy premier stated.
