EMEA News
European Commission Approves German State Takeover of Rosneft Assets
The European Commission (EC) has approved Germany’s plan to take sole control of the Russian energy firm Rosneft's German assets, Rosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH (RN R&M).
The acquisition by Germany’s Federal Ministry for Economic Affairs and Energy was cleared under the EU Merger Regulation following a simplified review procedure, EC said in a statement on its website on Monday.
The transaction primarily involves crude oil refining and the wholesale supply of fuels and petrochemical products.
Rosneft is the third-largest refining company in Germany, according to the company’s website. It holds stakes in three refineries in the country, which produce a range of oil products, including fuel oil used as bunker fuel.
The EC said the deal would not raise competition concerns, citing the companies’ limited market positions following the proposed transaction.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 515.00 | 1.00 | 704.50 | 7.50 |
| Rotterdam | 476.50 | 3.50 | 720.00 | 6.50 |
| Houston | 492.50 | 2.00 | 704.00 | 9.00 |
| Fujairah | 503.00 | 8.00 | 768.50 | 9.00 |
| EMEA Average | 529.00 | 5.50 | 808.00 | 4.50 |
| Global 20 Ports Average | 536.00 | 0.50 | 783.50 | 7.50 |
| Global 4 Ports Average | 496.50 | 1.00 | 724.00 | 0.50 |
| Global Average Bunker Price | 572.00 | 2.00 | 822.50 | 4.50 |
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