 |
Louisiana Light • 2 days | 71.81 | +1.53 | +2.18% | ||
|
Bonny Light • 25 days | 78.62 | -2.30 | -2.84% | ||
|
Opec Basket • 2 days | 72.42 | +1.58 | +2.23% | ||
|
Mars US • 315 days | 75.54 | -1.36 | -1.77% | ||
|
Gasoline • 7 hours | 1.930 | +0.003 | +0.17% |
|
Bonny Light • 25 days | 78.62 | -2.30 | -2.84% | ||
|
Girassol • 25 days | 79.56 | -1.80 | -2.21% | ||
|
Opec Basket • 2 days | 72.42 | +1.58 | +2.23% |
|
Peace Sour • 22 hours | 64.72 | +1.66 | +2.63% | ||
|
Light Sour Blend • 22 hours | 65.97 | +1.66 | +2.58% | ||
|
Syncrude Sweet Premium • 22 hours | 70.22 | +1.66 | +2.42% | ||
|
Central Alberta • 22 hours | 65.97 | +1.66 | +2.58% |
|
Eagle Ford • 2 days | 65.50 | +1.75 | +2.75% | ||
|
Oklahoma Sweet • 2 days | 65.50 | +1.75 | +2.75% | ||
|
Kansas Common • 2 days | 59.25 | +1.75 | +3.04% | ||
|
Buena Vista • 2 days | 75.72 | +1.41 | +1.90% |
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Qatar Reportedly Eyeing Stake in Germany’s Trapped Russian Refinery
Gas giant Qatar is reportedly in talks to purchase Russian Rosneft stake in German refinery PCK Schwedt, which has been under trusteeship by Berlin since Russia’s invasion of Ukraine in 2022, Bloomberg and Reuters reported on Wednesday.
Schwedt is the fourth-largest refinery in Germany, it is 54% owned by the Russian state oil giant, and it gets its oil from the Druzhba oil pipeline from Russia. The Schwedt refinery supplies 90% of the fuel needs of Germany’s capital city Berlin.
The trusteeship terms expire on September 10, and while Berlin largely controls the assets, Rosneft is said to retain some control over the sale of its stake in the refinery, according to Reuters. With the trusteeship coming to an end and facing either termination or extension, the German government is likely keen to see a deal before that date for state-run Rosneft’s 54.17% stake valued by Russian media at around $7 billion, Reuters reported. Shell owns the remaining shares, which in December it said would be sold to Britain’s Prax Group.
According to Bloomberg, citing unnamed sources, Qatar is the last bidding for the refinery, with a delegation visiting Berlin in “recent weeks”. Bloomberg’s unnamed sources also said that the German government would agree to a deal with Qatar, and that the ball is now in Rosneft’s court.
Rosneft did not respond to Bloomberg’s request for comment at the time of publication.
The Qatar Investment Authority (QIA), the Qatari sovereign wealth fund, owns a 19% stake in Rosneft.
In February, German government sources told Reuters that Berlin was considering a nationalization of Rosneft’s German assets, including the stake in the Schwedt refinery, however, nationalization is not the preferred option, but could be placed back on the table if a deal is not struck by the time the existing trusteeship expires next month.
By Charles Kennedy for Oilprice.com
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