Germany puts Rosneft refinery unit under trust According to Reuters

© Reuters. The company’s logo hangs at the PCK oil refinery, largely owned by Russia’s Rosneft, in Schwedt, Brandenburg, Germany, June 9, 2022. REUTERS / Michele Tantussi / File Photo

BERLIN (Reuters) – Germany placed German subsidiary of Russian oil giant Rosneft on Friday, handing control of the PCK refinery in Schwedt, a key source of Berlin’s fuel, to the federal regulator. state.

The refinery, until now largely owned by Rosneft, has tested Germany’s resolve to phase out oil imports from Russia by the end of the year, under European sanctions to punish Moscow for the war invade Ukraine.

“With the mandate, the threat to the security of the energy supply is met and an essential foundation is laid for the conservation and future of the Schwedt site,” the Economy Ministry said in a statement. declare.

The landlocked Schwedt refinery is Germany’s fourth largest, providing 90% of the fuel for the capital and has received all its crude oil from Russia via the Druzhba pipeline since the plant was built in the 1920s. 1960.

Friday’s move comes with a “comprehensive package” designed to ensure oil can be supplied to Schwedt through alternative routes, the ministry said.

With the trust, the Federal Network Authority regulator also took over Rosneft Deutschland’s shares in the MiRo and Bayernoil refineries, in Karlsruhe and Vohburg.

Chancellor Olaf Scholz, Economy Minister Robert Habeck and state chancellor Brandenburg will reveal details of the package at 1:30 p.m. (1130 GMT), the ministry added.

Rosneft Deutschland accounts for about 12% of Germany’s oil processing capacity and is one of the country’s largest oil processing companies, the ministry said.

The government’s move to place Rosneft Deutschland in the hands of the Federal Cyberspace Agency follows a similar move by Berlin to the SEFE, formerly known as Gazprom (MCX: Germania), which was mandated after Gazprom abandoned it in October. Private.

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