Rosneft of Russia likely to purchase large Georgian fuel company

Oil&Gas Materials 7 May 2019 16:07 (UTC +04:00)

Baku, Azerbaijan, May 7


Rosneft of Russia is likely to purchase one of the largest Georgian fuel companies Wissol, Trend reports with reference to Georgian Rustavi 2 TV channel.

Petrocas Energy, the daughter company of Rosneft, is holding negotiations with Wissol. In Georgia, Petrocas Energy owns an oil terminal at the Poti port and one of the largest retail petrol stations operating under the brand of the GULF Oil International company.

Rosneft reported on the purchase of 49 percent of Petrocas Energy in 2014. The owner of Petrocas Energy David Yakobashvili sold his share of the company to Rosneft for $140 million.

The Wissol company has not commented this information yet.

The Wissol company was founded in 2000. It owns about 180 petrol stations in Georgia.

Rosneft is the leader of Russia’s petroleum industry and the world’s largest publicly traded petroleum company. It is a global energy company with major assets located in Russia and a diversified portfolio in promising regions of international oil and gas sector in Venezuela, Cuba, Canada, the USA, Brazil, Norway, Germany, Italy, Mongolia, Kyrgyzstan, China, Vietnam, Myanmar, Turkmenistan, Georgia, Armenia, Belarus, Ukraine, Egypt, Mozambique, Iraq and Indonesia.