2024-03-05 04:47:08
The Russian energy company Rosneft probably wants to sell its shares in the Schwedt refinery. The federal government is currently preparing an expropriation.
Malmendier Legal, a law firm commissioned by Rosneft, has confirmed that the Russian energy company wants to sell its stake in the East German Schwedt oil refinery. “It is true that Rosneft is seriously considering selling its German activities,” the firm told Reuters when asked.
Although Rosneft could ensure energy supplies, the political framework is currently difficult. To facilitate the sale, the federal government could return control to Rosneft and not renew the imposed trusteeship.
Refinery is to be expropriated
Last Friday it became clear that the future of the refinery would be secured with continued control by the federal government and not with an expropriation of the Russian majority owner.
After the Russian invasion of Ukraine, the Rosneft shares were placed under trusteeship so that the refinery would no longer use Russian oil and at the same time ensure security of supply in Germany. This solution was extended several times and would expire in March. The federal government has prepared expropriation and has already started the process.
PCK refinery in Schwedt important for supplies in East Germany
With its 3,000 direct and indirect employees, the PCK refinery Schwedt plays a central role in supplying East Germany with gasoline and other refined products. But parts of western Poland are also supplied, as is Berlin-Brandenburg Airport.
Malmendier further announced that Rosneft assumes that the trusteeship will be extended again. The Russian company must be compensated for the financial disadvantages it has suffered as a result of the trust since September 2022.