Free Trial
USDCAD TECHS

Bullish Outlook

AUDUSD TECHS

Trend Needle Still Points South

US

US-ASEAN Summit Concludes

CANADA

Risk-On Sentiment Dominates

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Polish Cooperation Requires End to Russian Ownership

ENERGY SECURITY

Poland is seeking an end to Russian ownership of the PCK Schwedt refinery in Germany before they help the country secure oil supplies.

  • "Our fundamental condition for any solution to be implemented is an end of Russian ownership at the Schwedt refinery. No business model will be possible on our part without this." The Polish Climate Minister Anna Moskwa said on Thursday.
  • Germany’s Schwedt and Leuna refinery are fed by the northern Druzbha pipeline from Russia but the plan to pivot away from those flows involves sourcing from the global crude markets via Poland’s Gdansk port. The port can import higher volumes than Poland’s domestic refining needs.
  • The German lower house of parliament has worked on a bill this week that is hoped will allow the German government to take operation of the PCK refinery, away from Russia’s Rosneft to ensure domestic energy security. The bill still needs to be passed but would be set to come into effect in June.
161 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Poland is seeking an end to Russian ownership of the PCK Schwedt refinery in Germany before they help the country secure oil supplies.

  • "Our fundamental condition for any solution to be implemented is an end of Russian ownership at the Schwedt refinery. No business model will be possible on our part without this." The Polish Climate Minister Anna Moskwa said on Thursday.
  • Germany’s Schwedt and Leuna refinery are fed by the northern Druzbha pipeline from Russia but the plan to pivot away from those flows involves sourcing from the global crude markets via Poland’s Gdansk port. The port can import higher volumes than Poland’s domestic refining needs.
  • The German lower house of parliament has worked on a bill this week that is hoped will allow the German government to take operation of the PCK refinery, away from Russia’s Rosneft to ensure domestic energy security. The bill still needs to be passed but would be set to come into effect in June.