Germany Takes Control Over Rosneft’s Three German Oil Refineries
(Bloomberg) -- Germany is taking control of Russian oil major Rosneft PJSC’s German unit as Chancellor Olaf Scholz’s government reacts to the unprecedented energy crisis sparked by the war in Ukraine.
The federal network regulator will take over RN Refining & Marketing GmbH and Rosneft Deutschland GmbH, which accounts for around 12% of Germany’s oil processing capacity, and its stakes in oil refineries in Schwedt, Karlsruhe and Vohburg, the economy ministry said Friday.
Surging gas prices and Moscow’s move to squeeze supplies to Europe have already prompted a series of government bailouts and rescue loans. Scholz and Economy Minister Robert Habeck will present the Rosneft nationalization plan at a news conference in Berlin later Friday.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
KEEPING THE ENERGY INDUSTRY CONNECTED
Subscribe to our newsletter and get the best of Energy Connects directly to your inbox each week.
By subscribing, you agree to the processing of your personal data by dmg events as described in the Privacy Policy.
More oil news

Oil Climbs With Focus on OPEC+ Output Plans and Ukraine Talks

Diamondback Energy announces $4.08 billion acquisition to expand Permian presence

Oil Holds Declines on Prospect of Higher Russia, Iraq Supplies

Canada’s Conservative Leader Pitches Major Natural-Resource Revamp to Counter Trump

EPA Terminates Nearly 400 Workers Amid US Government Purge

Trump to Create White House Council to Drive Energy Dominance

Oil Steadies as Trump’s Reciprocal Tariffs Add to Trade Tensions

Isuzu to Build Car Plant in South Carolina as Trump Tariffs Loom

SoftBank Weighs Debt-Heavy Financing in $500 Billion AI Push
