Germany extends control over Rosneft's assets for the sixth time
PCK refinery in Schwedt (photo: EPA)

Germany has extended the management of the German subsidiaries of the Russian oil giant Rosneft until March 10, 2026. About reported Ministry of Economic Affairs and Climate Protection of Germany.

In March, the German Ministry of Economy made a similar decision (fifth), extending the trust management until September 10.

"With the extension of the resolution, the Federal Network Agency retains control over Rosneft Deutschland and, accordingly, its stakes in the three refineries PCK in Schwedt, MiRo in Karlsruhe and Bayernoil in Faubourg am Dunai," the agency said.

These measures allow us to continue production at three refineries of the German subsidiary of Rosneft's German subsidiary, as well as to save jobs.

"Rosneft has stated that it is actively pursuing the sale of Rosneft Germany. The sale would be the most legally secure and, therefore, the fastest way to attract investment in refineries and secure control over sites in Germany," the statement said.

Rosneft Deutschland accounts for about 12% of Germany's oil refining capacity, making it one of the country's largest companies in this industry.

The plant in Brandenburg-Schwedt is particularly important for supplying gasoline, kerosene and fuel oil to Berlin and the surrounding area, as well as to the northeast of Germany.

"Security of supply remains the main goal of all measures taken by the federal government in relation to Rosneft Deutschland," the ministry emphasized.

  • Germany deprived Rosneft of control over its assets in the country a few months after the start of Russia's full-scale war against Ukraine in September 2022. The German Ministry of Economy transferred Rosneft Deutschland and RN Refining & Marketing to the trust management of the Federal Network Agency.
  • Rosneft tried to challenge the transfer of assets to the German agency, but lost a court case.