The PCK oil refinery
Germany under pressure to solve Rosneft refinery problem
The Russian company’s German assets are under Berlin’s management and are exempt from sanctions, for now, but a permanent solution still needs to be found
Germany faces a narrowing window to secure a durable solution to the issue of Russian oil company Rosneft’s German subsidiaries, with the US Office of Foreign Assets Control (OFAC) sanctions waiver for the companies set to expire in April 2026. OFAC granted License 129—which exempts Rosneft’s German subsidiaries and majority-owned companies from US sanctions—at the end of October. The decision came after Germany’s Ministry for Economic Affairs and Energy provided assurances that the German subsidiaries' operations are "decoupled" from their Russian parent and are no longer controlled from Russia, meaning they do not generate income for Moscow. 740,000b/d – Total capacity of Rosneft’s G
Also in this section
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
11 March 2026
De la Rey Venter, CEO of LNG player MidOcean Energy, discusses strategy, project developments and the prospects for the LNG market
