BERLIN - Germany is taking control of Russian oil major Rosneft's German unit, including stakes in three oil refineries, as Chancellor Olaf Scholz reacts to the unprecedented energy crisis sparked by the invasion of Ukraine.
The move"counteracts the impending threat to the security of energy supply and lays an important foundation for the preservation and future of the Schwedt location", the ministry said in an e-mailed statement.and marks another step in Berlin's increasingly active role in the energy industry as it unwinds decades of tight collaboration with Russia.have already prompted a series of government bailouts and rescue loans for energy firms.
The energy crisis continues to ripple through the region's economy and markets, even as the European Union and national governments race to create new tools to ease the financial pain.BNetzA has warned Germany may face"waves" of shortages in the event of a cold winter and called on large industrial consumers to reduce their gas consumption to avoid compulsory rationing.
Source: Energy Industry News (energyindustrynews.net)
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