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Germany : Rosneft Deutschland enters the market for petroleum products in Germany.

Rosneft Deutschland GmbH, a Rosneft subsidiary, and the German BITUMINA Handel GmbH & Co. KG, a subsidiary of Basalt-Actien-Gesellschaft, in the presence of Rosneft Chief Executive Officer Igor Sechin and Rosneft Chairman of the Board of Directors Gerhard Schroeder, signed a contract for bitumen processing and production of polymer-modified bitumen products.

The document provides for processing of bitumen produced by PCK refinery at the BITUMINA polymer-modified bitumen (PMB) plant for production of Alfabit PMB based on Rosneft's own formulation. Signing of the contract with BITUMINA will enable Rosneft Deutschland to expand its product range, offering bitumen of own production with high performance to customers from Germany and other countries.

The Company intends to actively use long-term contracts to ensure reliable supply of high-quality bitumen products and a high level of service for consumers. In January 2018, Rosneft Deutschland commenced marketing and sales of bitumen in Germany and neighboring countries, providing commercial volumes of pavement bitumen from PCK, Bayernoil and MiRO refineries.

Rosneft Deutschland adapted the formulation of Alfabit bitumen product which successfully passed the tests in severe Russian climate conditions and demonstrated resistance to high loads. A distinctive feature of the product is its high elasticity and wear resistance. Asphalt mixtures with addition of Alfabit PMB significantly increase the service life of pavement and extend interrepair operation time. PMB Alfabit was used, among other things, for road coating of the Formula 1 track in Sochi, which confirms the high level of product quality.

Rosneft Deutschland General Director Brian Chesterman said: "We are pleased that the German highly competitive market has highly appraised our product which is based on unique recipes and using up-to-date technologies. The agreements reached by Rosneft Deutschland and BITUMINA allow us to apply and develop Rosneft technologies in Germany and Europe in general, and are an important step in the Company's strategy to enter the German market of petroleum products. "

Chairman of the Board of Management of Basalt-Actien-Gesellschaft Peter Vos said: We look forward to future cooperation with Rosneft Deutschland GmbH in Schwedt. With the newly established partnership, we are using the respective strengths that Basalt AG and Rosneft Deutschland GmbH bring with them, thus sustainably strengthening Schwedt as a business location".

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Publication:Mena Report
Geographic Code:4EUGE
Date:Jan 23, 2018
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