WORLD: Rosneft’s Schwedt refinery in Germany could be bought by a Qatari investor
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The German government will extend, for another six months, the administration of the German subsidiaries of the Russian oil group Rosneft, in advance of the sale of these assets to an investor from Qatar, several sources close to this file told Reuters on Monday, taken over by Agerpres.
The future of Rosneft’s German assets, which include a 54.17% stake in the PCK Schwedt refinery, has yet to be resolved after Berlin took control of those assets following Russia’s invasion of Ukraine.
A system of “trustees” (administrators – n.r.) was put in place by the German authorities to manage these assets, while the ownership, left to Rosneft, has been extended three times so far, with the idea of protecting the supply the Schwedt refinery with oil and give Rosneft the necessary time to find a buyer for its stake.
The sources quoted by Reuters, who wished to remain anonymous, say that the decision has already been taken to extend the administration of Rosneft’s assets, which was due to expire on September 10.
One of the sources said the extension was decided to allow Rosneft to negotiate the sale of its German assets to Qatar, which has a long history of investing in Germany and is the largest shareholder in RWE, Germany’s main electricity producer.
Rosneft’s activities in Germany also include participations in the MiRo and Bayernoil refineries.
Last week, the German government confirmed that there had been regular discussions with Qatari authorities regarding investment opportunities in recent months, without specifying whether a possible takeover of Rosneft’s assets was on the agenda.
