Fidu­cia­ry management of Ros­neft Deutsch­land GmbH and RN Re­fin­ing & Mar­ket­ing GmbH

By order of the Federal Ministry for Economic Affairs and Climate Action (BMWK) on 16 September 2022, the Bundesnetzagentur, an independent German regulatory authority, was appointed fiduciary of Rosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH (RNRM) on the basis of section 17(1) to (5) and (8) of the Energy Security of Supply Act (EnSiG).

The decision was prompted by the fact that contractual partners and even companies with stakes in RDG and RNRM were parting ways from them owing to the market uncertainties caused in particular by the close ties to Russia and the sanctions imposed on Russia. The settlement of remaining contractual arrangements was thus subject to considerable delays. The aim of the fiduciary management is also to prevent a refusal to provide operationally necessary services from hindering the business, especially with regard to critical operational processes.

The Bundesnetzagentur has drawn up a Letter of Comfort (pdf / 152 KB) to reduce market uncertainty on the part of business partners, banks, service providers and customers.

The Bundesnetzagentur has appointed Dr Johannes Bremer as the new chief executive officer of both RDG and RNRM.

News

Pressrelease (21 September 2022)

Pressrelease (16 September 2022)