• 3 minutes "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 9 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 2 days GREEN NEW DEAL = BLIZZARD OF LIES
  • 11 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 17 hours Energy Armageddon
  • 7 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 7 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 5 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 5 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 5 days The Federal Reserve and Money...Aspects which are not widely known
  • 2 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 6 days Goldman Betting on Cryptocurrencies
  • 9 days Сryptocurrency predictions
  • 14 days Putin and Xi Bet on the Global South
Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Premium Content

Germany Prepares To Expropriate Russian-Run Refinery

  • Germany prepares to take control of PCK refinery.
  • The PCK refinery in Schwedt supplies eastern Germany and western Poland.
  • PCK currently receives crude oil inputs from Russia through the Druzhba pipeline.

German Economy Minister Robert Habeck says the government is preparing to take control of the country’s PCK refinery, operated by Russian state-owned Rosneft, as it scrambles to replace Russian oil to enable an EU-wide ban. 

The PCK refinery in Schwedt supplies eastern Germany and western Poland. 

Germany and Poland are now said to be nearing the end of discussions on a concerted effort to zero out Russian crude oil imports to Germany, with new sources re-routed through German and Polish ports.  

PCK currently receives crude oil inputs from Russia through the Druzhba pipeline. 

The new plan would see PCK inputs shipped through the German Baltic Sea port of Rostock and the Polish port of Gdansk through an alternative pipeline link. Habeck said the plans had been agreed, with only technical details remaining. 

When asked if all-out expropriation of the refinery was a possibility, Habeck responded in the affirmative. 

“We are in a situation where the German government must adapt to and prepare for all scenarios,” said Habeck.

Germany has succeeded in reducing Russian oil imports by over 20%, though some refineries still rely on Russian imports, which now account for 12% of Germany’s overall oil imports. 

On Tuesday, Habeck said a full embargo was now “manageable” and it could be only a matter of days before Germany can withstand a full ban on Russian oil. 

Just last week, Germany suggested it would not be able to implement a full ban on Russian oil until the end of the year

Germany’s announcement also coincides with a Reuters report citing Italian officials as saying that the nationalization of its largest refinery, ultimately owned by Russian Lukoil, would be put on the Cabinet’s agenda on Thursday. 

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Mamdouh Salameh on April 28 2022 said:
    How a change of leadership in Germany from the decisive Angela Merkel who faced down Donald Trump to the bland Olaf Scholz is diminishing the country's decisiveness and leadership role by allowing it to succumb to pressure from the United States and its puppets inside the EU (Poland and the Baltic States).

    Isn’t Mr Scholz aware that by preparing to expropriate the country’s PCK refinery, operated by Russian state-owned Rosneft, Russia could retaliate by expropriating some of the best German companies operating in Russia.

    Over 6,000 German companies are currently operating in Russia providing at least 300,000 jobs to their subcontractors in Germany. Germany has been investing an average of € 20 billion per year in Russia since 1992

    Dr Mamdouh G Salameh
    International Oil Economist
    Visiting Professor of Energy Economics at ESCP Europe Business School, London

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News