Germany Seeks to Diversify Oil Supply for Schwedt Refinery

Germany is looking to diversify the oil supply for its main refinery in Schwedt to reduce dependency on Kazakh oil. While welcoming potential increases from Kazakhstan, officials stress other sources are also being considered. This comes after EU sanctions reduced Russian oil imports since 2022.

Germany is actively seeking to diversify the oil supply for the Schwedt refinery, aiming to reduce dependence on Kazakh oil. This development was disclosed by a high-ranking government official on Thursday.

While acknowledging the potential for increased Kazakh oil imports, the official emphasized that Kazakhstan is just one part of a broader strategy. The announcement comes ahead of Chancellor Olaf Scholz's visit to Kazakhstan scheduled for Sunday.

Kazakh oil has kept the PCK Schwedt refinery operational since 2022, following a decline in Russian oil imports due to European Union sanctions imposed on Moscow after the invasion of Ukraine.

(With inputs from agencies.)