Rosneft May Increase Share in Belarusian Refinery

Rosneft could be interested in Belarus' state stake in Mozyr oil refinery, a profitable duty-free destination for the Russian companies, Interfax news agency quoted Rosneft's head Igor Sechin as saying on October 16, Reuters reported on October 17.

Cash-strapped Belarus has said it wants to sell its stake in the refinery, which has capacity of around 11 million metric tons a year.

Rosneft and Gazprom Neft already own 42 percent in Mozyr via their Slavneft joint venture. Gazprom Neft, the oil arm of Gazprom, has already stated its interest in the plant.

"We are interested in this asset. We are already there, the rest will depend on the sale condition... We will consider it," Sechin said, according to Interfax.

Belarus plans to rake in $4.5 billion from privatization next year, including the sale of Mozyr refinery, up from $3 billion last year and just under $1 billion in the first half of this

Mozyr is one of two large refineries in Belarus.

Copyright: Reuters, 2013