Abnormal Heart Rhythm Inside Oil Refinery
The PCK refinery in Schwedt, Germany, continues to operate, defying doomsday prophecies about an import ban on Russian oil [1]. Despite the sanctions against Russia, the refinery is handling around three million tonnes of crude oil imports in the first half of 2025, demonstrating its resilience and continued activity [1].
Rosneft, the Russian state corporation, still holds a majority stake in the refinery, and as of mid-2025, no progress has been made in negotiations to sell these shares [2]. The refinery's future ownership remains uncertain due to the ongoing sanctions and geopolitical tensions.
Dietmar Woidke, Minister President of Brandenburg, describes the refinery as the "heart and backbone" of the region [4]. Despite the challenges, positive messages have been sent after seven meetings of a task force set up to save the refinery. These messages include an extended employment guarantee for the workforce until the end of the year [5].
Frank Wetzel, the new State Secretary of Federal Minister of Economics Katherina Reiche (CDU), has taken over from Michael Kellner [6]. Christian Görke, a member of the German Bundestag, demands that the federal government and the state of Brandenburg secure a blocking minority and co-determination on the future path of PCK towards a green refinery [7].
The refinery has been processing lower quality oil since the end of 2022, which causes borderline emissions, clogs facilities, and increases costs [8]. Despite these challenges, the utilization rate of the refinery rose by six percentage points to 84% in the first half of 2025 [9].
The original purpose of the pipeline was to pump fuels to Rostock for shipping. However, it is now reaching its capacity limits when used in the opposite direction to transport crude oil [10]. The upgrading of the pipeline from Schwedt to the Baltic Sea port of Rostock has not yet been approved by the EU Commission, despite €400 million in state aid being promised [11].
More than one interested party has expressed interest in the refinery's industrial area, according to CEO Schairer [12]. The refinery plans to make its industrial area available to investors for potential redevelopment.
The large oil field discovery off the Baltic island of Usedom does not significantly affect the PCK refinery, as Germany's annual oil consumption is much larger than the deposit size [13]. Habeck, the former Federal Minister of Economics, is not well-spoken of in Schwedt due to perceived broken promises regarding the refinery's operation [14].
In summary, the PCK Schwedt refinery operates actively with stable crude imports in 2025. Rosneft continues as majority owner, and no sale or share transfer has been finalized given the sanctions environment. No public future plans indicate shifts in ownership or operations due to the stalled negotiations and geopolitical constraints. This reflects a status quo where the refinery's operational status is stable but its ownership situation remains uncertain against the backdrop of ongoing sanctions and geopolitical tensions.
[1] [2] [3] References omitted for brevity.
The refinery's industrial area is attracting interest from potential investors, planning for redevelopment.Despite the lingering uncertainties in ownership due to ongoing sanctions and geopolitical tensions, the energy sector's finance and business sectors continue to support the PCK Schwedt refinery's activities in the industry, ensuring its steady operation.
