According to reports, a decision has not been made yet. However, the government no longer considers permanently extending the trust, which expires in March, to be the appropriate way to deal with the company.
Rosneft in Germany is one hundred percent owned by the Russian Rosneft Group. The company holds the majority of shares in the PCK refinery in Schwedt in Brandenburg, near the border with Poland. A share of approximately 54 percent is currently under the control of the German state through the federal government – in the so-called trusteeship management. In September 2022, the Federal Ministry of Economy transferred Rosneft Deutschland under the care of the Federal Network Agency (German: Bundesnetzagentur, BnetzA; the equivalent of the Polish Energy Regulatory Office) as a response to the Russian invasion of Ukraine. The regulation was valid for six months and then extended.
According to the German Press Agency (dpa), the main goal of the federal government is to ensure the security of fuel supplies and for this reason it is important to reliably and long-term secure Rosneft’s business activities in Germany. Following the expiry of the trusteeship, Rosneft Deutschland will no longer be able to fulfill its service mandate without further measures from the government.
The Federal Ministry of Economics also justified the decision to establish a trusteeship at that time as a threat to the security of fuel supplies in Germany. The government concluded that the operation of Rosneft’s plants was at risk because other companies wanted to end cooperation with the Russian company, citing sanctions.
“We are on the right track in Schwedt and will continue to take all necessary measures to maintain jobs and secure supplies to East Germany,” said Michael Kellner, Secretary of State at the Federal Ministry of Economics, referring to the situation at refineries in East Germany. The ministry supports the supply of crude oil to the site. The location with jobs will be maintained and expanded.
