German oil refinery, PCK Schwedt asked for state aid of EUR 400 million to upgrade the Rostock-Schwedt pipeline. Russian energy group Rosneft has a majority stake in PCK Schwedt, which has traditionally supplied 90% of the fuel used in Germany’s capital, Berlin.
Jul 12, 2023
Germany-based PCK Schwedt has reportedly applied for EUR 400 million in state aid from the economy ministry, for the upgradation of the Rostock-Schwedt pipeline. Mr. Ralf Schairer, PCK Head, informed the officials of the requested state aid at a task force meeting to secure the PCK Schwedt refinery’s future following Russia’s invasion of Ukraine.
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Russian energy group Rosneft has a majority stake in PCK Schwedt, which has traditionally supplied 90% of the fuel used in Germany’s capital, Berlin. In April, Germany approved a law to allow a quick sale of Rosneft’s stake in the refinery, however the timeline for this sale is unclear. Rosneft sued Berlin in October for taking control of its German unit, and its law firm stated in April the German government’s actions amounted to ‘expropriation’.
