German Court Dismisses Rosneft's Bid to Halt Shell's Schwedt Stake Sale

A German court dismissed Rosneft's complaint against Shell's sale of its stake in the Schwedt refinery. The Russian firm argued that the sale violated shareholder rights. The move comes amid tensions over Rosneft's control in Germany post-Russia's Ukraine invasion, with talks about selling German assets pursued actively.

A German court has dismissed Rosneft's objection to Shell's plan to sell its 37.5% stake in Germany's Schwedt refinery. Rosneft, which holds a 54.17% stake, unsuccessfully argued the sale violated shareholder agreements, given their existing consortium rights.

The attempt to block Shell's sale to Prax—a British company—was aligned with Rosneft's concerns over future stake disposals, amid tensions following Russia's 2022 invasion of Ukraine. The German government stripped Rosneft of control in response to severed energy ties.

The resolution of Rosneft's German assets remains pending, with negotiations reportedly underway for a sale to Qatar, which already holds significant investments in Germany. The country is actively pursuing a broader sale of Rosneft's German stakes.

(With inputs from agencies.)