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Poland Assures Schwedt Refinery Crude Supplies

OIL

Poland has given assurance that it would continue to supply crude oil to Germany’s Schwedt refinery if the German government decided to nationalize the facility, German Economy Minister Robert Habeck said.

  • The German government is planning to nationalize the Schwedt refinery that is currently part owned by Russia’s Rosneft, which Berlin put under a trusteeship in September 2022.
  • The process to dissolve the trusteeship had begun and the government was at the hearing stage, the minister added, after the trusteeship was extended twice.
  • "Should this scenario develop differently now ... Poland is prepared to continue to support us”, Habeck said, pointing to a potential halt of Kazakh supplies in retaliation for Germany’s move against Rosneft.
  • Poland told Germany it could replace the whole Kazakh volume of about 1-1.2mtpa, in addition to the 1.2mtpa Schwedt already received via the Polish port of Gdansk, a source said.
Energy BulletsCommodities
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