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Reuters: Shell offers German refiner in Rosneft swap-paper

Thu Sep 13, 2007 7:56 AM BST

MOSCOW, Sept 13 (Reuters) – Royal Dutch Shell (RDSa.L: Quote, Profile , Research) has offered to swap a stake in its German Miro refinery against oil production assets of Russian state-controlled firm Roneft (ROSN.MM: Quote, Profile , Research), a newspaper reported on Thursday.

Vedomosti business daily cited sources close to both firms as saying Shell was ready to cede part of its 32.25 percent stake in Miro, the 310,000 barrels per day refiner in Karlsruhe, but the exact size would depend on the offer of Rosneft.

Rosneft is in turn offering Shell to team up on North-Komsomolsk field in Siberia, which has reserves of 30 million tonnes (220 million barrels). The two firms could also work together on offshore deposits of the Black Sea, which has yet to be explored.

Rosneft and Shell declined to comment on the report.

Apart from Shell, Miro’s top shareholders are U.S. Esso, ConocoPhillips (COP.N: Quote, Profile , Research), BP (BP.L: Quote, Profile , Research) and Venezuela’s PDVSA.

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