The PCK Schwedt oil refinery majority owned by Russia's Rosneft. (Photo by Christian Ender/Getty Images)


German oil refinery Schwedt ‘guaranteed’ by Poland


German Economy Minister Robert Habeck said in Warsaw that Poland had “given reassurances” that it will continue to provide the country’s Schwedt refinery with crude oil in the event that Germany nationalises Russian multinational Rosneft’s German activities.

It was reported this month that Berlin is preparing for a possible nationalisation of Rosneft Deutschland’s activities, including its 54.17 per cent stake in the PCK Schwedt refinery.

The German Government put the facility under a trusteeship in September 2022 in the wake of Russia’s invasion of Ukraine.

Habeck said on February 13 that the process to dissolve the trusteeship had begun within the Government and was at the “hearing” stage.

Germany has extended the trusteeship twice and needs to make a fresh decision in March, when the current trusteeship expires.

“Poland has helped a lot in the past to secure the oil supply in Germany, in Eastern Germany,” said Habeck.

“Should this scenario develop differently now … Poland is prepared to continue to support us.”

A Polish source familiar with talks on supplies for Schwedt said on February 12 that Poland had reassured Germany two weeks previously that it could step in if Kazakh oil supplies were halted in possible retaliation for Berlin’s moves against Rosneft.

According to the source, Poland told Germany that it could replace the whole Kazakh volume, about 1.2 million tonnes per year.