Rosneft says one refinery in Germany did not work at full capacity in H1 due to incident in 2018
MOSCOW. Aug 21 (Interfax) - Throughput at Rosneft's oil refineries in Germany fell 25% year-on-year in H1 2019 to 4.43 million tonnes, the oil company said in a financial report to International Financial Reporting Standards (IFRS).
The reduction was mainly due to a "production decrease in PCK Raffinerie GmbH in the context of limitation of oil intake by the Transneft pipeline system in May-June 2019, due to scheduled turnarounds at PCK Raffinerie GmbH in March-April 2019, and due to incomplete production capacity at Bayernoil Raffineriegesellschaft GmbH caused by an incident in September 1, 2018," Rosneft said.
In the second quarter of 2019, processing at the refineries in Germany decreased by 10.7% in comparison with the first quarter of 2019 and was mainly caused by scheduled turnarounds at PCK Raffinerie GmbH in the first half of 2019, and also due to production decreased in PCK Raffinerie GmbH in the context of limitation of oil delivery to the pipeline in May-June.
Rosneft is the third biggest player on German's oil product market. Rosneft holds stakes in three oil refineries in Germany: 54.17% in PCK, 24% in MiRO and 25% in Bayernoil, with a combined share of capacity totaling 12.5 million tonnes per year, which is more than 12% of Germany's total refining capacity. Their average refining depth is 93% and their average Nelson complexity index is 9.1.
Operations are handled by Rosneft Deutschland GmbH, a subsidiary registered in Germany in 2017.