Shell unaffected by Germany’s trusteeship of PCK Schwedt refinery


It is unclear who will take over from Rosneft as operator of the 233,000 barrel per day refinery, which Shell has been seeking to divest.

“Shell is unaffected by this order as a 37.5% shareholder of PCK Schwedt and will continue to meet its contractual obligations in accordance with its own actions,” Shell said in an emailed statement.

“We don’t want to speculate on what steps in the continued operation of the Schwedt refinery (or other sites) may or may not be taken by the government.”

In May, Shell said PCK Schwedt had no strategic value for its business.

Last year it attempted to sell its Vienna-based Alcmene stake, but was beaten down by Rosneft, which was seeking to increase its stake to 54%. This operation was suspended by the German government in March.



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