Germany plans to expropriate Russians from the refinery in Schwedt. Will the shares go to Poland?

Luc Williams

Rosneft is the majority shareholder in the Brandenburg refinery, which is important for the supply of crude oil to German – writes the portal. Through its two subsidiaries, the concern holds approximately 54 percent. shares in Schwedt.

“According to internal government sources, the decision (on expropriation – PAP) must be made no later than the beginning of March,” he informs B.I.

What was the history of PCK Schwedt like?

In September 2022, the German government took control of the German branch of the Russian fuel company Rosneft and entrusted it with management Federal Network Agency. According to BI, “further extensions of the trusteeship involve significant legal risks.”

The state took over control of the company on the basis of the energy security law, which allows for such a step if there is a risk that enterprises operating critical infrastructure will not be able to function normally, the German Ministry of Economy reported at the time.

The portal estimates that the German Ministry of Economy has been planning the sale of Rosneft shares for some time. Last year, the Bundestag adopted an amendment to the Energy Security Act, which makes it easier for the government to sell shares in companies under trust management, writes BI.

Rosneft would probably receive compensation for lawful expropriation, although it is not known what the amount would be, the portal adds.

Will a Polish company take over the refinery?

According to information obtained by BI, the German Ministry of Economy “apparently wants to sell the shares Poland”, but without mentioning specific companies by name.

PCK Schwedt, located near the Polish border, is one of the largest refineries in Germany. It is the most important supplier of petroleum products for Berlin and Brandenburg.

After the introduction of the embargo on Russian oil, the refinery now obtains raw material by tankers through the ports of Rostock and Gdańsk, as well as from Kazakhstan, transported through Poland via the Druzhba pipeline – reminds BI. (PAP)


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