The German authorities placed PCK refinery in Schwedt, Brandenburg, under trusteeship. Now Reuters reports that Polish refiner PKN Orlen would like to just take in excess of the part of the facility owned by Russia’s Rosneft.
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Polish refiner PKN Orlen is interested in taking a controlling stake in the PCK Schwedt refinery that Germany has put under a trusteeship, efficiently eliminating control from Russia’s Rosneft, sources in Berlin and Warsaw acquainted with the matter advised Reuters on Friday.
Warsaw claimed before this year that ending Russian ownership of the refinery was a condition for most likely supplying it with sea-borne oil through a terminal in Gdansk and by way of Polish pipelines to switch Russian crude.
Point out-managed PKN Orlen declined to remark, expressing it announces prepared or executed assignments and investments when selections are created.
“We are checking the predicament in the area,” the refiner’s push business claimed in reaction to a query from Reuters.
Poland’s local weather ministry and the German economic system ministry have been not readily available for remark.
The refinery, which was greater part-owned by Rosneft, has been tests Germany’s solve to eradicate imports of oil from Russia by the conclude of the yr underneath European sanctions to punish Moscow for its invasion of Ukraine.
If this is an opportunistic obtain it may possibly be value considering.
Michal Kozak
senior equity analyst, Trigon
Germany desires Polish guidance to provide the refinery by means of Gdansk. Schwedt also provides components of Poland.
The landlocked refinery is the source of 90% of Berlin’s gasoline and has received all its crude from Russia by means of the Druzhba pipeline considering the fact that the plant was created in the 1960s.
The refinery, brought beneath condition manage under Germany’s power safety regulation, can go on to function but not at whole ability, a spokesperson for the overall economy ministry reported on Friday.
Poland previously this year supplied to allocate capability at its oil terminal in Gdansk and reported it could ship crude oil by means of its pipelines from the port to Germany on the ailment Rosneft was taken out as an owner of Schwedt.
“There’s a question if Schwedt refinery would change to non-Russian crude without the need of losses on production yields, but if this is an opportunistic get it may well be worthy of thinking of,” Michal Kozak, senior fairness analyst at Trigon brokerage informed Reuters.
