• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 10 hours Could Someone Give Me Insights on the Future of Renewable Energy?
  • 21 hours How Far Have We Really Gotten With Alternative Energy
  • 2 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 2 days Bankruptcy in the Industry
  • 3 days The United States produced more crude oil than any nation, at any time.
Carbon Price Crash Threatens EU Transition Funds

Carbon Price Crash Threatens EU Transition Funds

Earlier this year, the price…

Coal Continues to Thrive Despite Pledges for Clean Energy

Coal Continues to Thrive Despite Pledges for Clean Energy

Despite global commitments to clean…

Poland To Supply Crude To Former Rosneft Refinery In Germany

Germany and Poland have finally reached an agreement that will see Poland supply enough crude to Germany's Schwedt refinery that it seized from Russia in September to run at a capacity of 70% from January, meaning it will no longer need Russian crude.

Berlin has set a target to eliminate Russian oil imports by the end of the year and has been working with Poland to secure supply for Schwedt, which provides 90% of Berlin's fuel. 

The supply proposal will see 2-3 ships loaded with 100,000 tonnes of crude each a month at Gdansk in Poland for unloading at Schwedt starting next year. That would amount to some 3.5 million tonnes per year, with the rest coming via Rostock on the Baltic.

Back in September, Germany  seized the local unit of Russian oil major Rosneft PJSC, including three oil refineries as Berlin goes for a radical overhaul of its economy, hoping to control its industrial base and prevent shortages and blackouts this winter. 

Over the next few months, we’ll have to continue to preserve critical infrastructure in order to achieve energy independence,” Verena Hubertz, a leading lawmaker for Scholz’s Social Democrats, told Bloomberg.

Rosneft protested against the seizure calling it illegal and saying it amounts to an expropriation of equity assets in which it had invested €4.6bn in refining capacity. In a company statement, the Russian oil giant said it will “consider all possible measures to protect its shareholders, including legal action.”

Together, the three refineries run by Rosneft Germany provide some 12% of Germany’s total refining capacity, and the PCK Schwedt refinery near Berlin is key. This refinery, on the border with Poland, supplies fuel to the Berlin-Brandenburg region and tensions have been rising over the possibility that the refinery would grind to a halt, and its workers laid off. 

This is a restive region and the German chancellor is keen to avoid the consequences of a workers’ lament here.

ADVERTISEMENT

Seizing Rosneft’s assets and placing the refinery under state control was a political move that staves off a shutdown and layoffs, and prevents possible unrest. However, the big question was where it would get its crude from since it’s been running on Russian crude. That question has now been answered.

By Alex Kimani for Oilprice.com

More Top Reads from Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

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