Rosneft began selling German assets – Kommersant
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Rosneft (MOEX: ROSN) has begun the sale of its assets in Germany and plans to complete the transaction by September 2024, writes Reuters, citing a representative of the German Ministry of Economy. In early February, it was reported about the risk of nationalization of the assets of a Russian oil company in Germany.
“We will review this, including further legal guarantees. The main goal of our actions remains to ensure energy supply, especially to ensure the activities of PCK Schwedt,” Reuters quoted the German Ministry of Economy as saying. PCK Schwedt is a refinery in Schwedt, 54.17% of which is owned by Rosneft.
On February 7, Handelsblatt reported that German authorities are considering the possibility of nationalizing Rosneft Deutschland, a subsidiary of Rosneft. Law firm “Rosneft” confirmed information and said that lawyers would look for legal opportunities to prevent this.
Rosneft Deutschland manages the company’s shares in oil refineries in Germany: the country’s largest oil refinery in the city of Karlsruhe (Rosneft’s share is 24%), the PCK Raffinerie plant (54.17%) in Schwedt and BAYERNOIL Raffineriegesellschaft (28.57%) in city of Neustadt an der Donau.
Read more in the publication “Kommersant” “Rosneft is turning off Schwedt”.
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