Home / Business / Rosneft is Expanding its Business in South Caucasus

Rosneft is Expanding its Business in South Caucasus

After Georgia, Russian energy company Rosneft plans to make a large investment in Armenia.

Turns out that the Russian energy giant recently acquired Armenia’s network of gas stations “Petrol Markets.” The deal cost 40 million dollars to Rosneft.

The company owns a network of gas stations and oil production base on the territory of Armenia. The main active of Petrol Markets was the Surenavan’s bituminous factory, which started operating in 2009.

Earlier this year Rosneft bought 49% the Georgian billionaire David Iakobashvili’s shares in Petrokas Energy Limited for 144 million dollars.