Future of assets owned by Russian oil company Rosneft unclear

The future of Rosneft's assets in Germany, including a 54.17% stake in the PCK Schwedt refinery, remains unclear after Berlin took control following Russia's invasion of Ukraine.

The German Economy Ministry said on September 2 that the government has extended the trust for the assets of Russian oil company Rosneft in Germany until March 10, 2025 to prepare for the plan to sell these assets to Qatar.

PCK Schwedt oil refinery, Germany. (Source: TASS)

The trust - which allows German authorities to manage businesses still owned by Rosneft - has been extended three times to protect Schwedt's supplies and give Rosneft time to find a buyer for its stake.

Rosneft's German operations also include stakes in the MiRo and Bayernoil refineries. Russian media estimate the value of Rosneft's assets in Germany at around $7 billion.

Rosneft has not commented, but a person familiar with the matter said the extension of the mandate would allow Rosneft to negotiate the sale of its German assets to Qatar. Due diligence is ongoing between the two parties, but it could take time to reach an agreement.

The PCK Schwedt refinery is jointly owned by Shell and Eni. In December, Shell announced the sale of a 37.5% stake to the UK's Prax Group.

Source: https://baoquocte.vn/duc-tuong-lai-khoi-tai-san-thuoc-so-huu-cua-cong-ty-dau-khi-nga-rosneft-chua-ro-rang-284834.html