{"id":56922,"date":"2022-09-16T10:55:04","date_gmt":"2022-09-16T10:55:04","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/09\/16\/germany-takes-control-of-three-rosneft-oil-refineries\/"},"modified":"2022-09-16T10:55:04","modified_gmt":"2022-09-16T10:55:04","slug":"germany-takes-control-of-three-rosneft-oil-refineries","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/09\/16\/germany-takes-control-of-three-rosneft-oil-refineries\/","title":{"rendered":"Germany takes control of three Rosneft oil refineries"},"content":{"rendered":"
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Germany has temporarily taken control of Russian-owned oil refineries as the Ukraine war hits its energy industry.<\/b><\/p>\n<\/div>\n

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The three Rosneft refineries include a key facility in the north-east of the country that supplies around 90% of Berlin’s fuel.<\/p>\n<\/div>\n

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The Economy Ministry said the move was necessary to counter a looming threat to energy security.<\/p>\n<\/div>\n

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In a similar move, Germany took control of subsidiaries of Russian gas giant Gazprom in April.<\/p>\n<\/div>\n

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On Friday, the federal government handed over control of the PCK Schwedt refinery in Brandenburg and two other refineries in the south of the country to the national energy regulator.<\/p>\n<\/div>\n

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The Commerce Ministry said the move was necessary because critical service providers and customers were no longer willing to work with Rosneft, threatening the continued operation of the refineries. <\/p>\n<\/div>\n

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The Schwedt refinery is the fourth largest in Germany and the main supplier of petrol, diesel and aviation fuel for Berlin and the surrounding area. Rosneft has a 54% stake in the facility. <\/p>\n<\/div>\n

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The refinery has sourced all of its crude oil from Russia via the Druzhba pipeline (which can mean \u201cfriendship\u201d) since it was built in the 1960s. Parts of western Poland are also supplied from Schwedt.<\/p>\n<\/div>\n

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  • Russia sanctions: how will the world cope without oil and gas?<\/li>\n
  • War in Ukraine: G7 agree on price cap for Russian oil<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
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    Rosneft Germany, which accounts for around 12% of Germany’s oil processing capacity, will come under trusteeship from the Bundesnetzagentur, which said the original owner no longer has managerial authority. The regulator was also given control of Rosneft subsidiary RN Refining and Marketing.<\/p>\n<\/div>\n

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    “The trusteeship counteracts the threat to the security of the energy supply and lays an important foundation for the preservation and future of the Schwedt location,” according to the Federal Ministry of Economics.<\/p>\n<\/div>\n

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    Critical suppliers such as insurance companies, IT providers and banks are no longer willing to work with Rosneft, either with the subsidiaries themselves or through the refineries.<\/p>\n<\/div>\n

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    The Federal Network Agency has also taken over Rosneft Germany’s shares in the MiRo refinery in Karlsruhe and the Bayernoil refinery in Vohburg. Rosneft owns 28% and 24% of the shares respectively.<\/p>\n<\/div>\n

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    Germany must halt Russian oil imports by the end of the year due to European sanctions imposed over the Russian invasion of Ukraine.<\/p>\n<\/div>\n

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    The ministry said Friday’s move included a package to ensure the Schwedter refinery can receive oil from alternative routes.<\/p>\n<\/div>\n

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    It is unclear who could replace Rosneft as the operator of the refinery. Shell, which has a 37.5 percent stake in Schwedt, has been wanting to withdraw for some time.<\/p>\n<\/div>\n

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    Germany said this week it would increase lending to energy companies at risk of being crushed by soaring gas prices after Russia halted supplies to Europe in retaliation for Western sanctions.<\/p>\n<\/div>\n

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    German energy supplier Uniper said on Wednesday that the government could take a majority stake as a previous \u20ac19 billion government bailout was no longer sufficient.<\/p>\n<\/div>\n

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    The government has also put SEFE, formerly known as Gazprom Germania, under trusteeship after Russian energy giant Gazprom gave it up in April.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Germany has temporarily taken control of Russian-owned oil refineries as the Ukraine war hits its energy industry. The three Rosneft refineries include a key facility in the north-east of the country that supplies around 90% of Berlin’s fuel. The Economy Ministry said the move was necessary to counter a looming threat to energy security. In […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-56922","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"\nGermany takes control of three Rosneft oil refineries - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2022\/09\/16\/germany-takes-control-of-three-rosneft-oil-refineries\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Germany takes control of three Rosneft oil refineries\" \/>\n<meta property=\"og:description\" content=\"Germany has temporarily taken control of Russian-owned oil refineries as the Ukraine war hits its energy industry. 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