Kazakhstan's KazMunayGas not considering buying Rosneft's stake in Schwedt refinery in Germany

ASTANA. Dec 5 (Interfax) - Kazakhstan's national oil and gas company KazMunayGas (KMG) is not considering buying out Rosneft's stake in the Schwedt refinery in Germany, the Energy Ministry's official representative Shyngys Ilyasov told Interfax.

"At present, KMG is not considering the option of buying out Rosneft's stake in the Schwedt refinery in Germany," Ilyasov said.

KMG already has its own foreign asset - the Rompetrol refinery in Romania, which is supplied with oil from the resources of the Kazakh national company, he said.

Previously, Russian President Vladimir Putin said that the issue of Rosneft possibly selling its stake in the German Schwedt refinery had been "repeatedly discussed with the Kazakh side, so that Kazakhstan itself could supply oil for processing to this refinery in Germany."

As reported, Kazakhstan has been exporting oil to the Schwedt refinery in Germany via the Druzhba oil pipeline since February 2023. Supplies transported via transit through Russia stood at slightly less than 1 million tonnes in 2023. The country reached its quota of 1.2 million tonnes within 10M in 2024 and wants to increase supplies to 1.4 million tonnes, and to 2.5 million tonnes in 2025.