BP and Rosneft to intensify refining cooperation

Rosneft and BP signed on June 20 accords in the framework of the St. Petersburg International Economic Forum that include the decision to cooperate closer in refining activities, BP reported on June 19.

Igor Sechin and David Campbell, representing their companies, signed several accords mainly regarding the upstream but also for the reorganization of the Germany Ruhr Oel GbmH refining joint venture.

Rosneft will double its stake in Bayernoil refinery to 25%, in the MiRO refinery to 24% and in the PCK Raffinerie to 37.5% while BP will get 100% of the Gelsenkirchen refinery, according to reports.