Rosneft Interested in Majority Stake in Mozyr Refinery

Russia’s Rosneft is interested in acquiring a majority stake in the Mozyr Refinery, one of Belarus’s most profitable enterprises in the first six months of the year.

The refinery has a capacity of 11 million metric tons a year. The book value of the transaction is around $500 million. 

Belarus is opening up state property, promoting a privatisation process that includes 34 state enterprises. Mozyr Refinery is the largest. 

The country asks bidders to ensure the refinery’s full capacity load with hydrocarbons for five years. Only Russian companies seem entitled to take the helm of the company.

Gazprom Neft and Rosneft partially co-own the refinery, holding 21.29% share each. 

Belarus is facing peak payments on its international debt. At the same time, Russia is trying to maintain its clout in the area, despite Ukraine is moving away from Moscow. Kiev could sign a free trade agreement with Brussels in the coming weeks.