"Rosneft" to sell one of its refineries.

The company wants to sell one of its oil refineries.

As "the Kommersant" informs, "Rosneft" can sell one of its 13 oil refineries - Saratov. Sources of "the Kommersant" explain that it has an excess of refining capacities; in addition, significant funds are required for the modernization of the refinery. The analysts believe that the asset may be interesting for the investors, as the oil market remains a profitable sector. But currently nobody wishing to purchase the plant have been found, sources of "the Kommersant" on the market state.

"Rosneft" put up the Saratov Oil Refinery for sale, several sources in the market told "the Kommersant". The decision to sell the asset was made a couple of months ago, one of them stated. The value of the "Saratov" oil refinery is estimated at about $ 400-500 million. "The plant is not in a very good condition, the company fulfills the oil refinery modernization program, for which it needs money", - one of the interlocutors of "the Kommersant" stated. Another source of "the Kommersant" familiar with the situation informs that ""Rosneft" has an excess of processing capacity, it optimizes its business and improves the efficiency". "Rosneft" declined to comment.