Shell has ended talks with Unimot over selling German refinery stake, Bloomberg News reports

Unimot SA

27/08/2026 19:48

Aug 27 (Reuters) - British oil major Shell SHEL.L has ended negotiations to sell its stake in Germany's Russia-linked Schwedt refinery to Polish energy group Unimot UNTP.WA, Bloomberg News reported on Thursday, citing people familiar with the matter.

Here are a few details:
The sale discussions, which began in 2023, concluded months ago, the Bloomberg report said. 
Unimot had emerged as one of the possible buyers of a 37.5% stake Shell owns in Germany's PCK Schwedt refinery. 
Shell and Unimot did not immediately respond to a Reuters request for comment outside regular business hours. 
The refinery, majority-owned by Russia's Rosneft, has been a problem for the German government ever since Berlin ended its energy ties with Moscow in response to Russia's invasion of Ukraine. 
Germany put Rosneft's 54.17% stake under trusteeship, essentially giving the government control over the asset while technically leaving ownership in the Russian group's hands - a move that prompted Shell to revive plans to sell its stake. 
According to Bloomberg, Shell and Unimot had been in advanced talks as of February, before ending talks. 


 (Reporting by Sumedha Mukherjee in Bengaluru; Editing by Vijay Kishore)
 ((Sumedha.Mukherjee2@thomsonreuters.com))