Stories from Schwed · Germany

The PCK refinery remains under the ownership of the Russian state-owned company Rosneft, despite being under trusteeship by the Federal Network Agency since the start of the Ukraine war. German Economy Minister Katharina Reiche has indicated she does not intend to change this ownership status. Kazakh oil currently accounts for 20 to 25 percent of the refinery's capacity. Most of this oil is transported via a pipeline from the port of Rostock. The German government is expected to revisit the status of Rosneft Deutschland, the local branch of the Russian energy corporation. Rosneft Deutschland currently holds shares in the PCK refinery located in Schwedt. Since the Russian invasion of Ukraine, the Federal Network Agency has managed the subsidiary in a fiduciary capacity. Experts suggest this issue may resurface in upcoming discussions.