Germany takes control of stakes in Rosneft oil refineries - BBC Germany takes over Rosneft oil refineries - LA Wire Now Reuters reports that Polish refiner PKN Orlen wants to take over … WARSAW/BERLIN, March 7 (Reuters) - Slashed output at Germany’s Schwedt oil refinery demonstrates the difficulty Berlin faces in turning away from … In a similar move in April, Germany took control of subsidiaries of Russian gas giant Gazprom. Due to Rosneft's attitude being aimed at obstruction, Berlin views regaining control of the refinery from Rosneft as a precondition for starting the process of switching from Russian oil at the Brandenburg site. Russian state oil giant Rosneft has acquired Shell's minority stake in the 230,000 b/d PCK Schwedt refinery in northeastern Germany, boosting its downstream footprint in Europe's biggest economy where it will become the second-biggest refiner. The refinery started operations in 1964 and has a Nelson Complexity Index (NCI) of 9.8. Ersatz für russische Pipeline Polen sagt Öllieferung für Raffinerie Schwedt zu. In the event that this measure is insufficient to guarantee the proper operation of the company and avoid the risk of a shortage in the power supply, the law provides the federal government – as an ultima ratio solution – the possibility to expropriate the company (or part of its shares) for appropriate compensation. Located 120 km northeast of Berlin, the PCK Schwedt refinery is supplied with Russian Urals crude through the major Druzhba oil pipeline. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. It will thus affect production costs and the competitiveness of the refinery. Germany, Poland aim to secure oil supply to Schwedt refinery. About 9% of the … It runs wholly on Russian imports, … The oversupply of coal globally and continued subdued demand have pushed sellers and traders from... 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BERLIN, Dec 9 (Reuters) - Germany expects to reach a decision next week on how the Schwedt refinery will be supplied as a ban on Russian oil takes effect, the Economy Ministry said late on Thursday. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The refinery, brought under state control under Germany's energy security law, can continue to operate but not at full capacity, a spokesperson for the economy ministry said on Friday. Resistance from the local community is also a serious political problem for the Social Democrats, who govern both in the Uckermark district where Schwedt is located, and in Brandenburg as a whole. What oil production cuts were agreed at OPEC+ meeting? We have recently upgraded our technology platform. Porner Group executed revamp works on multiple process units at the PCK refinery, while EDL Anlagenbau Gesellschaft (EDL), a Porner Group company, was responsible for the replacement of the regenerator at the FCC plant, as well as for the replacement of the vacuum column and the stripper column at a crude oil distillation unit of the refinery in 2016. On Friday, the German government handed control of the PCK Schwedt refinery in Brandenburg to the national energy regulator, along with stakes in two other refineries in the south of the country. Shell sells its minority shareholding in PCK Schwedt joint … The … This significantly increases the scope for state interference in the activities of companies managing Germany's critical energy infrastructure. FRANKFURT, March 21 (Reuters) - Germany has put Russian oil group Rosneft's (ROSN.MM) planned purchase of a 37.5% stake in the PCK Schwedt refinery under review, a spokesperson for the economy ministry said on Monday. A 203km-long pipeline from the Rostock Port on the Baltic coast of Germany also supplies crude oil to the refinery. That move was put on hold by the German government in March. PCK Raffinerie holds a 45% stake in the German section of the Druzhba pipeline. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. It put Rosneft Deutschland under a trusteeship of the German industry regulator but Rosneft still holds 54.17% of the refinery. Now, There’s a Backlash, Istanbul Wants to Make Urban Data Available to Everybody, US Mayors Cite ‘Unprecedented’ Mental Health Crisis as Top Concern, SEC’s Lawsuit Against Binance Strikes at Heart of Ailing Crypto Sector, SEC’s Regulatory Net Now Covers $115 Billion of Crypto After Lawsuit Against Binance, Cboe Wins Approval for Margin Trades on Crypto Futures Exchange. At the time, Shell said Liwathon's Austria-based Alcmene unit would provide energy and commodities trading in Germany from its headquarters in Vienna. The Schwedt facility continues to be supplied exclusively by Russian crude oil sent via Poland through the Druzhba (Friendship) oil pipeline. A new main control room, spread over 1,000m² in the refinery complex, started operations in 2016. The port recently took delivery of its first cargo of US oil in at least half a decade. Germany has launched such reviews in the past when it has considered there were grounds to suspect that investments or acquisitions could be against the public interest. WebHistory. This has the advantages of quick delivery and integration into the refinery's energy system. Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Russia sanctions: How can the world cope without its oil and gas? There were concerns in Berlin that the Russian firm would simply suspend operations at the plant, rather than use non-Russian oil. Exclusive news, data and analytics for financial market professionals, Reporting by Vera Eckert Editing by Miranda Murray and Mark Potter, Oil falls as economic fears overshadow Saudi output cut, Kazakhstan to press ahead with $16.5 bln claim against oil majors, Saudi cuts unlikely to lift oil prices to high $80s-low $90s, Citi says, Shell to exit European home retail energy businesses. The economy ministry said the move was necessary because critical service providers and customers were no longer willing to work with Rosneft, putting the continued operation of the refineries under threat. The rest lies with the Italian Eni. As EU member states push for a Russian oil embargo, Germany's PCK Schwedt refinery is facing an uncertain future. December 01, 2022 at 01:51 pm. Moreover, the Bundestag deputy from the Uckermark district is Michael Kellner (Greens), the state secretary at BMWK and one of Habeck's closest associates. Polish firm wants Rosneft's old stake in PCK Schwedt refinery Berlin aims to eliminate imports of oil from Russia by the end of the year under European Union … Polish refiner PKN Orlen is interested in taking a controlling stake in the PCK Schwedt refinery that Germany has placed under a trusteeship, effectively removing control from Russia's Rosneft, sources in Berlin and Warsaw familiar with the matter told Reuters on Friday. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Schwedt also supplies west Polish … Germany, Poland aim to secure oil supply to Schwedt refinery Schwedt refinery Germany took control of the Schwedt refinery, which was majority owned by Rosneft Deutschland, last Friday as … Mexico’s Business Class Is Doing Fine Under AMLO, The Markets Believe in American Exceptionalism, Google’s Top Lawyer Preps for Fights Over AI and Tech ‘Censorship’, Moving Saharan Sunshine to Europe via Undersea Cables, Giorgia Meloni Seeks to Cement Power by Remaking Corporate Italy, China’s Mysterious Entertainment Crackdown Hits Gay Pride Events, Japan Aims for Women to Make Up 30% of Directors at Top Firms, Finding Ways to Get Polluters to Pay for Climate Damages, South Africa Seeks Water Investment With New Procurement Office, ‘Bounty Hunters’ Are Earning Money for Voter Signatures in California. It is situated near the Germany-Poland border, in the Brandenburg state of Germany. PCK Raffinerie GmbH Location: Schwedt/Oder (Brandenburg) Employees: 1.200 Shareholders: Rosneft - 54.17%, Shell - 37.5%, Eni - 8.33% Total processing capacity: 11,6 million tons of crude oil per year Nelson-Index: 9,8. … In the facility, Rosneft has 54% ownership. The move by the government puts it in charge of Rosneft's stakes in three refineries in the country. PKN Orlen of Poland is interested in taking a controlling stake in the PCK Schwedt refinery that Germany placed under a trusteeship, sources told Reuters. Panasonic to boost battery output at Tesla's Nevada Gigafactory by 10%, US bank shares fall after Treasury debt issuance, proposed new capital requirements, Indonesia Pertamina finalising takeover of Shell's Masela shares -CEO, Novavax exec says its new COVID shot should work against variants on the rise. Shell said on Friday it was “unaffected” by the German move to take control of the refinery. Who is no longer world's richest? In happier times, the refinery would take in vast quantities of crude brought from central Russia through the Druzbha pipeline, and pump out refined products for Berlin and Brandenburg. The British company's efforts to sell its 37.5% stake in the refinery, Germany's fourth-largest which … Shell in May said PCK Schwedt held no strategic value for its business. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Now the German government has control - a symbol of the vast changes imposed on Europe's energy sector by the conflict. The spokesperson added the ministry did not comment on procedures for ongoing or prospective investment reviews. In a dramatic shift in policy, Germany is now scrambling to reduce its heavy dependence on Russian raw materials. Germany would look to increase supplies from elsewhere, including from Kazakhstan. "We are now evaluating the talks within the federal government and are currently expecting a decision from the federal government by the end of next week," the spokesperson added. 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After several years of growing tensions, the potential for a reset under Australia's new Labor government is in question as trade sanctions remain and diplomatic disputes persist. Der Bund durfte die Raffinerie Schwedt unter Treuhandverwaltung stellen, urteilt das Bundesverwaltungsgericht. Alcmene, a subsidiary of oil terminals operator Liwathon, agreed to acquire a 37.5% stake in PCK Raffinerie from Shell in July 2021. The British company's efforts to sell its 37.5% stake in the refinery, Germany's fourth-largest which … The two governments on Thursday met in Berlin to discuss how the two German refineries could continue to operate after the embargo on Russian oil comes into effect. Rosneft Deutschland, which accounts for about 12% of German oil processing capacity, will fall under the trusteeship of the Federal Network Agency regulator, which said the original owner no longer had authority to issue instructions. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. The amendment still needs to be approved by the Bundesrat, and it is on the agenda of the chamber on 20 May. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Berlin aims to eliminate Russian oil imports by the end of the year as per European Union sanctions and has for months been working with Poland to try to secure supply for Schwedt, which provides 90% of Berlin's fuel. WebDie PCK Raffinerie GmbH (ehemals VEB Petrolchemisches Kombinat Schwedt) ist ein Erdölverarbeitungswerk in Schwedt/Oder in der Uckermark (Brandenburg).Die PCK-Raffinerie in Schwedt versorgt zu 95 Prozent die Räume Berlin und Brandenburg mit Kraftstoffen, also Benzin, Diesel, Flugturbinenkraftstoff und Heizöl.Der Marktanteil an der … 30th Dezember 1958 Registration of a company as a petroleum processing plant in Schwedt (EVW) 11th November 1960 November Foundation stone laid. Factbox: German refineries seek to operate without Russian crude Rosneft, already the … Germany’s Schwedt oil refinery has started processing US crude blended with Russian Urals, according to a person familiar with the matter. Germany Schwedt Oil Refinery Starts Blending US Crude With … But a major hurdle has been Schwedt’s ownership structure as Russian refiner Rosneft owns a 54.17% stake. But with Germany having pledged to boycott Russian oil, even though the pipeline itself is not covered by the EU's forthcoming embargo, new sources of supply will have to be found. But Shell plans to shut crude processing at the Wesseling site within the Rhineland refining complex in 2025, when Rosneft would become Germany's biggest refiner. The Schwedt refinery is particularly important to Germany’s energy needs, processing about 220,000 barrels of crude a day. "There's a question if Schwedt refinery would adjust to non-Russian crude without losses on production yields, but if this is an opportunistic buy it might be worth considering," Michal Kozak, senior equity analyst at Trigon brokerage told Reuters. The PCK Refinery handles Ural crude exported from Russia and has a Nelson Complexity Index of 9.8. Moreover, over the decades of its operation, the refinery has become an inseparable part of the region's identity, so the prospect of stopping processing Russian oil rouses great controversy among its inhabitants, who fear for the future financial condition of the plant and their employment. Scholz on Friday announced €1bn (£874m) of investment in the region, of which £825m would go to the Schwedt refinery and some be spent on upgrading the pipeline from Rostock. BERLIN (Reuters) -Germany and Poland have signed a deal aimed … The company is already developing projects aimed at the production of cleaner fuels, such as "green" hydrogen and sustainable aviation fuel. Read about our approach to external linking. Germany takes control of Russian-owned oil refineries - CNN … According to Habeck's recent statements, his department is already legally prepared to implement new regulations with regard to PCK. LONDON, Sept 16 (Reuters) - Shell said on Friday it was "unaffected" by the German government's decision to place the PCK Schwedt oil refinery under a trusteeship, effectively taking control away from Russian majority owner Rosneft (ROSN.MM). The owner of this refinery, the French company Total, decided as early as in March to move away from Russian crude and to import the oil via Poland’s Naftoport. Germany puts Rosneft's purchase of Schwedt refinery stake WebTop refinery in Europe. Our Standards: The Thomson Reuters Trust Principles. Supplies via the Druzhba pipeline that feed Schwedt are exempt from the EU sanctions on Russian crude but Warsaw and Berlin pledged to ditch deliveries from Moscow from 2023. Shell continues to operate Germany's Rheinland refinery, the country's largest, which processes 327,000 of crude oil and consists of two sites; Wesseling and Godorf. Both sides want to ensure Polish refineries in Gdansk and Plock as well as German refineries in Schwedt and Leuna near Leipzig are adequately supplied with crude oil, ministers from both countries said earlier this month. Kashmir battles alarming drug addiction crisis, Why the city that never sleeps is slowly sinking. Can UK’s Storm Shadow missiles change Ukraine war? Rosneft has a 54% … Additionally, crude oil may be imported via the oil port in Gdansk and onwards via the Pomeranian and Druzhba pipelines to Germany. From this purchase, Rosneft will increase its shareholding in PCK from 54.17% to 91.67%. PCK Oil Refinery, Schwedt/Oder, Brandenburg, Germany All quotes delayed a minimum of 15 minutes. Poland's climate ministry and the German economy ministry were not available for comment. Shell , a minority shareholder in the German PCK Schwedt refinery operated and majority-owned by Russia's Rosneft , will take on more responsibility for the site in … Germany has reduced its dependence on Russian crude oil from 35 to 12 percent and will take steps to replace the remaining deliveries to the Russian-operated Schwedt refinery within the next days, said the economy and climate minister.As Gazprom stopped supplies of natural gas to Poland and Bulgaria because of their “failure” to pay in … The first reports of these plans emerged on 12 April, and as early as on 25 April the new regulations were adopted by the federal government and submitted to the Bundestag (via coalition groupings in order to expedite the procedure). In cooperation with the Brandenburg authorities and the minority shareholder (Shell), BMWK worked out a plan for alternative oil supplies to the Schwedt refinery. Schwedt Refinery It's been a half century since Australia and China established formal relations, but neither side is really celebrating. French-German relations during the polycrisis, Turkey: first nuclear power plant under Russian rules, Novatek is taking over Shell’s assets in Sakhalin, Initial legislative work on the act was accompanied by media speculation, fuelled by statements from government representatives, that the new legislation is being drafted mainly with the PCK (. 30th Dezember 1958 Registration of a company as a petroleum processing plant in Schwedt (EVW) 11th November 1960 November Foundation stone laid. Porner Group also executed the revamp of the stripping column in the refinery’s FCC gas concentration plant in 2010. Shell SHEL has relaunched the sale of its stake in the PCK Schwedt (C}RO7309414219) oil refinery outside Berlin after the German government last year took control of the plant from its Russian operator, industry sources told Reuters.. Shell SHEL has relaunched the sale of its stake in the PCK Schwedt (C}RO7309414219) oil refinery outside Berlin after the German government last year took control of the plant from its Russian operator, industry sources told Reuters.. Germany takes control of Russian-owned oil refineries - CNN … Image courtesy of PCK Raffinerie GmbH. Refinery In 2010, the bioethanol plant was expanded into a bio-refinery including a biomethane production. Since the Druzhba pipeline was established in the 1960s, the refinery has only ever gotten its oil from Russia. To continue reading you must login or register with us. These parties are demanding a rejection of the embargo or at least a special exemption for East German refineries, along the lines as the one the European Commission is proposing for Hungary, for example. The German government has taken temporary control of two subsidiaries of the Russian energy giant Rosneft. The act gives the … “There is a good chance that the Schwedt refinery will be preserved, that we can supply it with oil through other … Rosneft to become Germany's number two refiner after move on … Refinery. Germany expects decision on Schwedt refinery oil supply next … Shell Deutschland agreed to sell its 37.5% stake in PCK Raffinerie to Alcmene, a subsidiary of Estonia-based oil terminals operator Liwathon, in July 2021. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Germany, Poland aim to secure oil supply to Schwedt refinery GlobalData's report, 'Refining Industry Outlook in Europe to 2022' states that in 2017, Europe accounted for 14.1% of the total global refining capacity. PCK is one of the most technologically complex refineries in Germany, with a Nelson index of 9.8. Rosneft Deutschland, a subsidiary of Russia-based Rosneft, holds a 54.17% stake in PCK Raffinerie, while Shell Deutschland, a subsidiary of Royal Dutch Shell, holds a 37.5% stake with the remaining 8.33% stake held by Eni Deutschland, a wholly-owned subsidiary of Italian oil major Eni. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Solar panels - an eco-disaster waiting to happen? We use them to give you the best experience. The PCK Refinery in Schwedt, Germany has a crude oil processing capacity of approximately 11.6Mtpa. Read about our approach to external linking. Germany, Italy, Spain, the UK and the Netherlands are the … The move is part of the Anglo-Dutch oil and gas multinational’s strategy to narrow down its refinery business around the world. BERLIN: Germany and Poland have signed a deal aimed at securing the supply of oil to the Schwedt refinery after ending reliance on Russian oil, Germany 's economy ministry said on Thursday. tons of crude oil are processed by PCK annually. A large paper factory is located near Schwedt. Alcmene eyeing takeover of Germany's Schwedt refinery Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Schwedt WebVERBIO Ethanol Schwedt is the first bioethanol plant anywhere in Europe to be located directly on the site of an oil refinery. Apple Headset Looks Sleek in Person But Battery Pack Stands Out, Apple’s $3,499 Vision Pro Headset Will Test Marketing Might, Morgan Stanley Expects a Shock 16% US Profit Drop to Kill Rally, Oil Nudged Higher by Saudi Surprise Cut as Traders Wait and See, Brothers Fighting Fraud Charges From India Are Flourishing in Nigeria. Rosneft exercised the pre-emption right to buy a 37.5% share of the PCK (Schwedt) refinery from Shell. Published On Dec 2, 2022 at 10:37 AM IST. FRANKFURT, March 21 (Reuters) - Germany has put Russian oil group Rosneft's (ROSN.MM) planned purchase of a 37.5% stake in the PCK Schwedt refinery … The document will enter into force the following day. See here for a complete list of exchanges and delays. The German government placed PCK refinery in Schwedt, Brandenburg, under trusteeship. See here for a complete list of exchanges and delays. Unlike in the case of Gazprom Germania, where BMWK has introduced a trust in connection with ownership changes carried out in violation of German law, the current form of the document did not provide Berlin with a pretext for a similar move. The refinery receives majority of the crude oil supply through the Druzhba pipeline from Russia. The refinery, which was majority-owned by Rosneft, has been testing Germany's resolve to eliminate imports of oil from Russia by the end of the year under European sanctions to punish Moscow for its invasion of Ukraine. Berlin aims to eliminate imports of oil from Russia by the end of the year, applying European Union sanctions, and has for months been working with Poland to secure supply for Schwedt, which provides 90% of Berlin's fuel. articles a month for anyone to read, even non-subscribers! Exclusive news, data and analytics for financial market professionals, Reporting by Shadia Nasralla; editing by Jason Neely, Oil falls as economic fears overshadow Saudi output cut, Kazakhstan to press ahead with $16.5 bln claim against oil majors, Saudi cuts unlikely to lift oil prices to high $80s-low $90s, Citi says, Shell to exit European home retail energy businesses. The regulator was also handed control of Rosneft subsidiary RN Refining and Marketing. "Security of supply can be ensured," he told parliament and added: "So we guarantee that work can continue in Schwedt.". FRANKFURT -Vienna-based Alcmene Group is interested in taking over the partly Rosneft-owned PCK Schwedt refinery in eastern Germany, the Handelsblatt … Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The facility has a pipeline connection to the port of Rostock through which it may cover up to 60% of its demand (the plant processes nearly 12 million tonnes of crude oil annually). Rosneft increases share ownership in German The possibility of using this solution is, however, severely restricted by the capacity of the route already used by the second of the East German refineries, Leuna in Saxony-Anhalt. All quotes delayed a minimum of 15 minutes. Germany’s fourth-largest refinery, Schwedt, serves as Berlin and the surrounding area’s primary source of gasoline, diesel, and aviation fuel.

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