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Market Chatter: Shell-Unimot Talks on Russia-Linked Refinery Collapse

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Shell (SHEL) has ended years of talks with Poland's Unimot over the sale of its stake in Germany's Russia-linked Schwedt refinery, Bloomberg reported on Thursday, citing industry sources.

The discussions ended several months ago, marking the latest setback in efforts to resolve the ownership of the strategic refinery, which has been caught in limbo since Germany's energy ties with Moscow deteriorated in 2022.

Shell and Unimot were in advanced negotiations as recently as February, when the German government disclosed that the companies were discussing a potential transaction. Italy's Eni (E), which also holds a minority stake in PCK, has been exploring options to sell its interest.

Shell owns a 37.5% stake in PCK Raffinerie, the operator of the Schwedt refinery, while Russia's Rosneft remains the majority shareholder. Shell did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $90.96, Change: $-0.16, Percent Change: -0.17%

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