The negotiation process for the PCK refinery in Schwedt was lengthy and involved.
Foto: Patrick Pleul / dpa
The government is extending the trusteeship of the PCK oil refinery in Schwedt, Brandenburg by six months. The Ministry of Economy announced this on Friday. Apparently, there have been no further progress in the negotiations with the Russian oil company Rosneft regarding the sale of its shares in the refinery, according to several individuals involved in the process, as reported by Reuters. This is likely to also delay the search for potential investors.
„I cannot reword“
Germany placed the oil processor that supplies the eastern part of Germany and parts of western Poland with gasoline under the trusteeship of the Federal Network Agency in September of last year, citing the need to secure energy supply. A lawsuit filed by Rosneft, which owns 54 percent of the refinery, was dismissed in March. The Federal Ministry of Economics could also expropriate Rosneft, but has so far been hesitant to take this step.
Brandenburgs Ministerpräsident Dietmar Woidke drängt zur Eile. Eine Lösung sei sehr wichtig, um den Menschen Sicherheit zu geben, sagte der SPD-Politiker im ZDF. »Wir müssen beweisen, dass es funktioniert und dass es vorwärts geht«. Die Raffinerie ist mit gut 3000 direkt und indirekt Beschäftigten auch einer der größten Arbeitgeber in Brandenburg.
The Polish government also demanded more involvement from the Ministry of Economy in June to push Rosneft out of the company, clearing the way for Polish investors. Shell holds 37 percent of the shares in Schwedt, while the Italian Eni holds just over eight percent.
Are there advanced negotiations at Shell?
Shell is also looking for buyers for its share in the refinery. According to several parties involved, the negotiations are well advanced. Private Polish companies are considered potential buyers. However, the Polish state-owned company Orlen, which was rumored to be interested in taking over Schwedt, is not given any chances. Shell declined to comment. No statements were initially obtained from Rosneft and the Polish Ministry of Environment.
„I cannot reword“
The connection to the Rostock port is planned to be expanded.
Since the EU oil embargo against Russia due to the attack on Ukraine, the main supply of the refinery has mostly been running through the port of Rostock. The pipeline from there is planned to be expanded. Additionally, oil is delivered from Gdansk to Schwedt, with a portion coming from Kazakhstan.
It is unclear whether Kazakh companies could also invest in Schwedt. Two Kazakh companies, KazMunayGas and its subsidiary Kaztransoil, are said to be interested in acquiring Shell’s shares. The German government welcomed the Kazakh oil deliveries. However, it is also noted in Berlin that Russia could block deliveries from the Central Asian country at any time. The German government states that investors must guarantee a production level of 75 percent as a prerequisite for purchasing Rosneft shares.