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Business


GERMANY WILL KEEP RUSSIAN OIL GIANT ROSNEFT SUBSIDIARIES UNDER ITS CONTROL FOR
ANOTHER 6 MONTHS

Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year] Updated
11:28 PM HST, September 7, 2023
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BERLIN (AP) — The German government said Friday it will keep two subsidiaries of
Russian oil giant Rosneft under the control of German authorities for another
six months.

The government announced a year ago that it was putting Rosneft Deutschland GmbH
and Rosneft Refining and Marketing GmbH under the administration of Germany’s
Federal Network Agency. In March, a German federal court threw out complaints
from Rosneft and upheld the decision.

The trusteeship gave German authorities control of three Russian-owned
refineries. Rosneft accounted at the time for about 12% of Germany’s oil
refining capacity.

The Economy Ministry said Friday that it is extending the trusteeship again
until March 10, 2024, “to secure the energy supply.”

The Rosneft subsidiaries own a refinery at Schwedt, on the Polish border
northeast of Berlin, which provides petroleum products for the capital and much
of northeastern Germany. Until the end of 2022, it largely processed Russian
oil. It now receives oil from the Polish port of Gdansk and from Kazakhstan.


Advertisement


In its ruling in March, the Federal Administrative Court found that the
government wasn’t obliged to give Rosneft a hearing before acting under the
circumstances. It said indications of a possible withdrawal of capital backed
fears that the subsidiaries could collapse — a scenario that the government
already had moved to avoid with gas company Gazprom’s former German unit by
taking control of that.

Germany later nationalized the former Gazprom unit, which was renamed Securing
Energy for Europe.

    
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Far from wildfire flames, residents of sunny Los Angeles go about their lives in
disquiet and fearAs fires raged from the seaside enclave of Pacific Palisades to
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sunshine and balmy weather reckoned with an unsettling reality.AP News


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Strongest winds in over a decade could increase fire risk to dry Southern
CaliforniaThe blaze began shortly after the start of a Santa Ana windstorm that
the National Weather service warned could be the strongest to hit Southern
California in more than a decade.AP News


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Los Angeles wildfires live updates: At least 10,000 structures have burned in
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Trump announces $20B US investment by Emirati businessmanPresident-elect Donald
Trump is expected to announce a $20 billion investment into building data
centers in the United States by the Emirati company led by a billionaire who is
a close business partner of the Trump family.AP News


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disrupted travel for thousands of passengers on ferries that cross the sea
between the North and South Islands.AP News


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experts say people can significantly improve their own safety with a little
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killed and thousands of structures have burned in wildfires raging in the Los
Angeles area.AP News


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officials sayUkrainian officials say that a Russian missile attack in the
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