Located in the city of Schwedt/Oder in Brandenburg, Germany, the PCK Raffinerie refinery has a primary distillation capacity of 11.5 mln/t.
Ruhr Oel (ROG) holds 37.5% stake in the refinery while Shell and Eni own 37.5% and 8.33% respectively.
Rosneft head Igor Sechin said: "This agreement is reflective of the level of trust, long-term commitment and mutual benefit in the relationships between Total and Rosneft.
"It proves the effectiveness of the European-Russian energy partnership in that it delivers added value to all companies and countries involved.
"As for Rosneft, this deal means a strengthening of its position in one of Europe’s most efficient and effective refineries and an opportunity to serve the end-customers in its most important market. Once the deal is closed, Rosneft together with ROG will manage close to 55% of the refinery’s ownership."
Rosneft had acquired a 50% stake in ROG, which owns shares in four refineries which include 100% of Gelsenkirchen, 25% of Bayernoil, 24% of MiRO and 37.5% in PCK, in May 2011.
Meanwhile, Rosneft is also considering signing an off-take agreement with Total to cater to Berlin markets.
