The German government will retain control over the local units of the Russian state-owned company Rosneft, including a major oil refinery in the north-eastern German town of Schwedt.
The government is extending the trusteeship over the PCK Schwedt refinery that began in 2022 by a further six months to September 10, the Economy Ministry said on Thursday.
The refinery supplies large parts of north-eastern Germany with petrol, heating oil, kerosene and chemical products.
“Ensuring security of supply remains central to the federal government,” explained the ministry’s Parliamentary State Secretary Michael Kellner.
He said the extension will make it possible to continue production at the affected sites and to secure jobs.
The German government’s trusteeship over the refinery – which is 54% owned by Rosneft – is only intended to be temporary with a clear prospect of termination.
Rosneft is pursuing a sale of its German assets.
Keller appealed to Rosneft: “We expect the Russian side to conclude the sales negotiations quickly; Clarity regarding ownership is important for the further development of the refineries.”
The German Rosneft units also have minority stakes in the MiRo refinery in Karlsruhe and Bayernoil in Vohburg. In total, Rosneft accounts for around 12% of the capacity for processing crude oil in Germany.
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