MOSCOW, Dec 29 (Reuters) - Russia's largest oil producer andits shareholder BP have completed dissolution of RuhrOel, their refining joint venture in Germany, Rosneft said onThursday.
Rosneft said with the restructuring it had embarked ondeveloping its own business in Germany and had created a newsubsidiary called Rosneft Deutschland.
The deal will allow Rosneft to gain control over more than12 percent of Germany's oil refining market with annual refiningcapacity of 12.5 million tonnes.
Rosneft will also become a direct shareholder in theBayernoil refinery, increasing its stake in it to 25 percentfrom 12.5 percent.
It will also raise it stake in the MiRO refinery to 24percent from 12 percent and in the PCK refinery to 54.17 percentfrom 35.42 percent.
For its part, BP will take 100 percent control of theGelsenkirchen refinery and DHC Solvent Chemie, a solventproduction facility. (Reporting by Vladimir Soldatkin; editing by Jason Neely)