The Ministry of Economy is planning to expropriate the oil company Rosneft. The government wants to preserve all jobs with such a step.
Berlin – The uncertain future of Rosneft Deutschland (RD) could be over. The federal government wants to examine the possibility of expropriation. A few months after the war of aggression on Ukraine, the Ministry of Economic Affairs placed Rosneft Deutschland GmbH and Rosneft Refining and Marketing GmbH under trusteeship of the Federal Network Agency in September 2022. Now a final solution seems to be in the offing.
Federal government plans to nationalize Rosneft Germany
Initially, Germany had this about the expropriation of Rosneft Handelsblatt citing government circles. Accordingly, the necessary formal hearing involving the Russian Rosneft group took place on Monday (February 5). According to information from the AFP news agency on Wednesday (February 7), a hearing has been scheduled as part of the audit. However, a decision has not yet been made.
The future of the Schwedt refinery and its continued supply of crude oil has been a concern for politicians since the beginning of the war in Ukraine. Rosneft Germany is wholly owned by the Russian Rosneft Group and holds a good 54 percent of the Schwedt refinery. The PCK oil refinery in Schwedt, which is majority owned by Rosneft, ensures the basic supply of gasoline to northeast Germany.
Rosneft supply contract – government plans expropriation
The trust must be renewed every six months. It currently runs until March 10th. Without subsequent government measures, Rosneft Germany is in danger of no longer being able to fulfill its supply mandate, it has now been told to AFP. The traffic light coalition is therefore examining options at an early stage to ensure security of supply. The Handelsblatt reported that the government no longer considers the constant extension of the existing trust administration to be the appropriate means of dealing with the company.
Nationalization of Rosneft: Government wants to preserve jobs
“We are on the right track in Schwedt,” said the parliamentary state secretary in the Federal Ministry of Economics, Michael Kellner (Greens), on Wednesday. The federal government will “continue to take all necessary measures to preserve jobs and secure supplies in East Germany.”
According to Kellner, there are “discussions with companies from Poland and Kazakhstan” about supplying Schwedt with crude oil. He will travel to Poland next week with Federal Economics Minister Robert Habeck (Greens). “The primary goal remains to ensure security of supply and to secure the operations of Rosneft Deutschland and PCK Schwedt as well as the MiRO and Bayernoil refineries reliably and in the long term.” Rosneft Deutschland holds 24 and 28 shares in the MiRO refineries in Karlsruhe and Bayernoil in Vohburg, respectively. 57 percent. (vk/afp)
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