German government appointed trustee to Rosneft Germany

Trustee to Rosneft Germany

Crude oil importers Rosneft Germany and RN Refining & Marketing GmbH have been transferred to the management of Germany’s energy market regulator (Bundesnetzagentur-BNetzA), the German Ministry of Economy and Climate Protection said in a statement.

Control of the PCK refinery in Schwedt, a major supplier of diesel and gasoline fuels for Berlin, was also given to the Bundesnetzagentur.

In the statement of the ministry, it was emphasized that Rosneft Germany accounts for about 12 percent of the country’s oil processing capacity and is one of the largest oil processing companies in Germany, and that the appointment of a trustee is a step against the threat to energy supply security.

In the statement, it was stated that Prime Minister Olaf Scholz, Minister of Economy and Climate Protection Robert Habeck and Brandenburg state chancellor Dietmar Woidke will announce the details of the package for the future of Rosneft Germany at 13.30 local time today.

The Energy Security Act authorized the German government to appoint trustees to critical companies to ensure energy supply security.

Rosneft owns 54.7 percent of the PCK refinery in Schwedt, which is of great importance in the supply of gasoline, diesel and kerosene for Germany, the Berlin-Brandenburg region and western Poland.

Germany, which bought 35 percent of its crude oil from Russia before the Russia-Ukraine war, aims to become independent of Russian oil by the end of this year.

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