-Russia’s Rosneft mentioned on Friday that gasoline costs in Germany will possible leap if the PCK Schwedt refinery it owns alongside Shell and Eni replaces Russian pipeline oil provides with costlier, seaborne non-Russian barrels.
The European Union plans an almost-complete embargo of Russian barrels by year-end, and is making an attempt to wean itself off Russian crude imports, which have fed inland refineries in Germany, Poland and different central European nations by way of pipeline.Rosneft mentioned the refinery’s capability can be reduce by half if provided solely by way of pipeline from the German Baltic Sea port of Rostock. It at the moment receives all its provides by way of the Druzhba pipeline from Russia.
“In accordance with our estimates, the loss from PCK‘s operation on this mode can be about 300 million euros per 12 months,” Rosneft mentioned.
“The alternative of even part of Russian provides will result in underloading of the plant and a pointy improve in the price of petroleum merchandise, the scarcity of which is already a severe risk to the German shopper market right now.”
A spokesman for Rosneft declined to offer additional particulars.
A tanker of U.S. bitter crude oil was delivered to Rostock final week for the primary time ever to feed into PCK Schwedt, in accordance with sources, analysts and vessel monitoring information.
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