Finance
Germany extends job security at PCK Schwedt refinery until the end of 2025
Published by Global Banking & Finance Review®
Posted on June 30, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 30, 2025
1 min readLast updated: January 23, 2026
Germany has extended job security at the PCK Schwedt refinery until 2025, addressing challenges from Russian oil sanctions and planning future site prospects.
BERLIN (Reuters) -The German government has extended job security for workers at the PCK Schwedt oil refinery until the end of 2025, the economy ministry said in a statement on Monday.
"The sanctions against Russian oil have put the PCK refinery in a difficult situation," Economy Minister Katherina Reiche said in a statement.
"With the extended job security, we are now creating the basis for developing concrete prospects for the site together with the state of Brandenburg, PCK and regional partners," she said.
While remaining the legal owner, Russian oil company Rosneft was stripped of control of the refinery after Berlin seized the entities following Russia's invasion of Ukraine in 2022.
(Writing by Friederike Heine; editing by Matthias Williams)
The German government has extended job security for workers at the PCK Schwedt oil refinery until the end of 2025.
The PCK refinery is in a difficult situation due to sanctions against Russian oil, as stated by Economy Minister Katherina Reiche.
Russian oil company Rosneft was stripped of control over the refinery after Berlin seized the entities following Russia's invasion of Ukraine in 2022.
The extended job security aims to create a basis for developing concrete prospects for the site together with the state of Brandenburg and regional partners.
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