Rosneft spoke about the volume of investments in German oil refining

MOSCOW, 16 Sep — PRIME. Rosneft’s total investments in oil refining projects in Germany amounted to 4.6 billion euros, and further investments were planned, including in the PCK refinery, the company said.

“Rosneft’s total investment in oil refining projects in Germany amounted to 4.6 billion euros. Additional investments were planned in connection with an increase in the company’s share capital in the RGC and the transition to biofuel production,” the statement says.

The company notes that there were also plans to further develop the production and infrastructure of factories. Investment programs, in particular, provided for the implementation of green projects, projects in the field of petrochemistry and energy.

Such projects included a program to improve energy efficiency and reduce greenhouse gas emissions, a number of large wastewater and groundwater treatment projects at PCK, MiRO and Bayernoil plants, a green hydrogen production project using renewable energy sources (for the subsequent production of motor and jet fuels), projects for the production of synthetic motor fuels, Rosneft also said.

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Earlier on Friday, the German Ministry of Economy and Climate Protection announced that the German Cabinet had transferred Rosneft’s subsidiaries – Rosneft Deutschland and RN Refining & Marketing – under the control of the Federal Network Agency. The agency thus gained control of Rosneft Deutschland and a corresponding stake in three refineries, PCK Schwedt, MiRo and Bayernoil. According to the Ministry of Economy, this is necessary so that refineries in Schwedt, Karlsruhe and Wochburg can continue production.

The agency explained that the reason for the introduction of trusteeship over Rosneft Deutschland and RN Refining & Marketing was the market situation that has developed due to their close ties with Russia.