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Business

EXCLUSIVE: Russian oil giant Rosneft to discuss possible German asset sale with Berlin

On December 20, representatives from Rosneft are set to travel to Berlin for discussions with government officials regarding potential options, including the sale of the Russian oil giant’s German assets, according to a source familiar with the matter who spoke to Reuters.

READ: “The Masked Singer Season 10 Finale Shocker: Jaw-Dropping Reveals, A-List Celebrities Unmasked, and Emotional Performances!”

This meeting marks the first of its kind since Berlin placed local units of Rosneft, which holds a 54.17% stake in the PCK Schwedt refinery, under trusteeship. Although Rosneft remains the legal owner of the stake, it has been divested of control. The discussions also follow Shell’s recent announcement of the sale of its 37.5% stake in the refinery to the Prax Group, a move that occurred just a week prior. Additionally,  has filed a case at Germany’s Federal Constitutional Court challenging the trusteeship.

Rosneft

The meeting with Philipp Steinberg, the head of the economic stabilization and energy security unit in the ministry, will explore various options, including the potential sale of  stake. The source emphasized that no concrete decision on a solution is expected on Friday, describing the gathering as an exchange of positions and possibilities.

The spokesperson for the economy ministry declined to provide comments, and Rosneft had not responded to Reuters’ request for comment at the time of reporting.

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