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PCK Schwedt Decision in Coming Days

REFINING

Eni is evaluating its options over the sale of its minority stake in Germany’s PCK Schwedt refinery.

  • Germany is days away from deciding what to do with Rosneft Deutschland, the majority owner of the refinery.
  • It was taken under state ownership in September 2022 following the Russian invasion of Ukraine earlier that year.
  • Berlin is considering options, including nationalization.
  • Eni has a right of first refusal on any share sale of Shell Plc, but will not exercise the option according to Bloomberg sources.
  • Shell’s German unit announced in mid-December that it would transfer its 37.5% interest in PCK to the UK’s Prax Group, set for H1 2024 finalisation.

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