Free Trial

PCK Schwedt Applies for Subsidies to Upgrade Oil Supply Pipeline

REFINING

The PCK Schwedt refinery in Germany has applied for subsidies to upgrade the oil pipeline from the German port of Rostock for an alternative supply route.

  • Schwedt was operating at 50-60% capacity this spring after Germany stopped oil supplies from Russia due to the Ukraine war. The plant is ramping up operating rates to 70% amid a new supply agreement with Kazakhstan to receive 100,000t/month of crude oil until the end of the year.
  • The delayed application for the reinforcement of the crude link between Schwedt and the port of Rostock reached the ministry earlier this week according to deputy economy minister Michael Kellner.
  • “The refinery’s capacity utilization continues to increase,” Kellner said, with crude oil supply via Rostock, Gdansk and from Kazakhstan.
  • The German government had promised to spend as much as €400m to expand the pipeline. Fossil-fuel subsidy is still subject to state aid approval from the European Commission.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.