by Riham Alkousaa and Christoph Steitz
BERLIN/FRANKFURT (Reuters) – Germany will extend its supervision of local subsidiaries of Russian group Rosneft by six months ahead of a sale of assets to Qatar, two people familiar with the matter told Reuters on Monday.
The future of Rosneft’s German assets, which include a 54.17% stake in the PCK refinery in Schwedt, has not yet been decided since Berlin took control following Russia’s invasion of Ukraine.
Sources, who could not be named because they were not authorized to speak publicly, said it had been decided to further extend the conservatorship, which is due to expire on September 10.
Neither the German Economy Ministry nor Rosneft were immediately available for comment.
One of the sources said the extension of the conservatorship was to allow Rosneft to negotiate the sale of its German assets to Qatar, which has long invested in Germany and is the largest shareholder in RWE, the country’s largest electricity producer.
Under Germany’s Energy Security Act, Berlin could also choose to expropriate Rosneft Germany if no sale deal could be agreed, as it did with Gazprom’s local assets when the Russian gas company said it would exit in 2022.
(Written by Riham Alkousaa and Christoph Steitz, Pauline Foret, edited by Blandine Hénault)
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