Connect with us

World Biz

Germany Seizes Russian-Owned Refinery Amid Energy Crisis

Published

on

germany

The German subsidiary of Russian oil giant Rosneft was put under trusteeship on Friday, giving Germany’s federal regulator control of the PCK refinery in Schwedt, a key source of fuel for the city of Berlin.

Rosneft Deutschland, which was previously majority owned by Rosneft, has tested Germany’s resolve to eliminate imports of oil from Russia by the end of the year under European sanctions to punish Moscow for its invasion of Ukraine.

“With the trusteeship, the threat to the security of energy supply is countered and an essential foundation stone is set for the preservation and future of the Schwedt site,” Germany’s economy ministry said in a statement.

Rosneft Deutschland, which accounts for about 12pc of German oil processing capacity, will fall under the trusteeship of the Federal Network Agency regulator, which said the original owner no longer had the authority to issue instructions.

Taking control of the Rosneft Deutschland is the latest move by Germany to shore up its energy industry, which is reeling from the effects of the war in Ukraine.

Germany said this week it would step up lending to energy firms at risk of being crushed by soaring gas prices after Russia cut supplies to Europe in retaliation for Western sanctions.

German utility Uniper said on Wednesday the government might take a controlling stake, saying an earlier state rescue package worth 19 billion euros was no longer enough.

The government has also put SEFE, formerly known as Gazprom Germania, under trusteeship after Russian energy giant Gazprom ditched it in April.

German government sources had said before Friday’s announcement that all Russian oil supplies could be halted.

The Schwedt refinery, Germany’s fourth-largest and the supplier of 90pc of Berlin’s fuel, has received all its crude from Russia via the Druzhba pipeline since it was built in the 1960s. Parts of western Poland are also supplied by Schwedt.

The ministry said Friday’s move included a package to ensure the refinery could receive oil from alternative routes. It also means the Federal Network Agency takes Rosneft Deutschland’s shares in the MiRo refinery in Karlsruhe and Bayernoil refinery in Vohburg.

It is unclear who could step in to replace Rosneft as operator of the Schwedt refinery. Shell, which owns a 37.5pc stake in Schwedt, has wanted to withdraw for some time.

Verbio and Enertrag, both involved in renewables, have expressed interest.

 

Share this
Click to comment

You must be logged in to post a comment Login

Leave a Reply

World Biz

‘Mass casualty event’ as bridge hit by ship collapses into river in Baltimore, US

By

Published

on

Baltimore

Baltimore’s 1.6-mile (2.57 km) Francis Scott Key Bridge collapsed and vehicles plunged into the river early on Tuesday (March 26) after a ship collided into a support pylon, officials said, and rescuers were searching the water for survivors.

A live video posted on YouTube showed the ship ploughing into the bridge in darkness. The headlights of vehicles could be seen on the bridge as huge spans collapsed into the Patapsco River and the ship caught fire. Reuters could not immediately verify the videos. Up to 20 people were in the water, AFP said, citing the fire department. The Baltimore City Fire Department could not be reached immediately to confirm the number.

The department described the collapse as a mass-casualty incident and said workers were searching for seven people. “We received several 911 calls at around 1:30 am, that a vessel struck the Key Bridge in Baltimore, causing the collapse. This is currently a mass casualty incident and we are searching for seven people who are in the river,” Kevin Cartwright, director of communications for the Baltimore Fire Department told Reuters.

Baltimore police said they had been notified of the incident at 1:35 a.m. ET (535 GMT) on Tuesday.

The Associated Press reported that multiple vehicles had fallen into the water. Ship tracking data from LSEG shows a Singapore-flagged container ship, the Dali, at the location along the Key Bridge where the accident occurred. The registered owner of the ship is Grace Ocean Pte Ltd and the manager is Synergy Marine Group, LSEG data show.

Synergy Marine Corp said that the Dali collided with one of the pillars of the bridge and that all its crew members, including the two pilots, had been accounted for and there were no reports of any injuries. Reuters could not immediately reach Grace Ocean for comment. “All lanes closed both directions for incident on I-695 Key Bridge. Traffic is being detoured,” Maryland Transportation Authority said in a post on X.

It was not immediately clear if the Baltimore port operations were impacted due to the bridge collapse. The port’s private and public terminals handled 847,158 autos and light trucks in 2023, the most of any U.S. port. The port also handles farm and construction machinery, sugar, gypsum and coal, according to a Maryland government website. The Baltimore port did not immediately respond to Reuters’ request for comment. “I’m aware of and en route to the incident at the Key Bridge… Emergency personnel are on scene, and efforts are underway,” Baltimore Mayor Brandon Scott on X. The bridge, named after Francis Scott Key, opened in 1977.

Share this
Continue Reading

World Biz

Gunmen kill at least 93 in concert attack near Moscow, Islamic State claims responsibility

By

Published

on

gunmen moscow

Camouflage-clad gunmen opened fire with automatic weapons at concertgoers near Moscow on Friday, killing at least 93 people and injuring 145 in an attack claimed by Islamic State militants.

In the deadliest attack in Russia since the 2004 Beslan school siege, gunmen sprayed civilians with bullets just before Soviet-era rock group “Picnic” was to perform to a full house at the 6,200-seat the Crocus City Hall just west of the capital.

Verified video showed people taking their seats in the hall, then rushing for the exits as repeated gunfire echoed above screams. Other video showed men shooting at groups of people. Some victims lay motionless in pools of blood.

“Suddenly there were bangs behind us – shots. A burst of firing – I do not know what,” one witness, who asked not to be identified by name, told Reuters.

“A stampede began. Everyone ran to the escalator,” the witness said. “Everyone was screaming; everyone was running.”

Russian investigators said the death toll was more than 60. Health officials said about 145 people were wounded, of which about 60 were in critical condition.

In the 2004 Beslan school siege, Islamist militants took more than 1,000 people, including hundreds of children, hostage.

Russian President Vladimir Putin was being updated by security chiefs about the situation, including from Alexander Bortnikov, the head of the Federal Security Service (FSB), the Kremlin said.

Russian investigators published pictures of a Kalashnikov automatic weapon, vests with multiple spare magazines and bags of spent bullet casings.

ISLAMIC STATE

Islamic State, the militant group that once sought control over swathes of Iraq and Syria, claimed responsibility for the attack, the group’s Amaq agency said on Telegram.

A grainy picture was published by some Russian media of two of the alleged attackers in a white car.

The fate of the attackers was unclear as firefighters battled a massive blaze and emergency services evacuated hundreds of people while parts of the venue’s roof collapsed.

Islamic State said its fighters attacked on the outskirts of Moscow, “killing and wounding hundreds and causing great destruction to the place before they withdrew to their bases safely.” The statement gave no further detail.

The United States has intelligence confirming Islamic State’s claim of responsibility for the shooting, a U.S. official said on Friday. The official said Washington had warned Moscow in recent weeks of the possibility of an attack.

“We did warn the Russians appropriately,” said the official, speaking on condition of anonymity, without providing any additional details.

Russia has yet to say who it thinks is responsible.

Item 1 of 15 Ambulances and vehicles of Russian emergency services are parked outside the burning Crocus City Hall concert venue following a shooting incident, outside Moscow, Russia, March 22, 2024. REUTERS/Yulia Morozova [1/15]Ambulances and vehicles of Russian emergency services are parked outside the burning Crocus City Hall concert venue following a shooting incident, outside Moscow, Russia, March 22, 2024. REUTERS/Yulia Morozova Purchase Licensing Rights, opens new tab

The attack on Crocus City Hall, about 20 km (12 miles) from the Kremlin, comes just two weeks after the U.S. embassy in Russia warned that “extremists” had imminent plans for an attack in Moscow.

Hours before the embassy warning, the FSB said it had foiled an attack on a Moscow synagogue by Islamic State’s affiliate in Afghanistan, known as ISIS-Khorasan or ISIS-K, and seeks a caliphate across Afghanistan, Pakistan, Turkmenistan, Tajikistan, Uzbekistan and Iran.

Putin changed the course of the Syrian civil war by intervening in 2015, supporting President Bashar al-Assad against the opposition and Islamic State.

“ISIS-K has been fixated on Russia for the past two years, frequently criticizing Putin in its propaganda,” said Colin Clarke of the Soufan Center.

The broader Islamic State group has claimed deadly attacks across the Middle East, Afghanistan, Pakistan, Iran, Europe, the Philippines and Sri Lanka.

Russian Foreign Ministry spokeswoman Maria Zakharova said it was a “bloody terrorist attack” that the entire world should condemn.

The United States, European and Arab powers and many former Soviet republics expressed shock and sent their condolences. Ukrainian presidential adviser Mykhailo Podolyak denied any Ukrainian involvement.

The United Nations Security Council condemned what it called a “heinous and cowardly terrorist attack.”

SECURITY TIGHTENED

Russia tightened security at airports, transport hubs and across the capital – a vast urban area of over 21 million people. All large-scale public events were cancelled across the country.

Putin, who was on Sunday re-elected for a new six-year term, sent thousands of troops into Ukraine in 2022 and has repeatedly warned that various powers – including countries in the West – are seeking to sow chaos inside Russia.

Putin was informed in the first minutes of the attack and is regularly being updated, the Kremlin said.

“The president constantly receives information about what is happening and about the measures being taken through all relevant services. The head of state gave all the necessary instructions,” Kremlin spokesperson Dmitry Peskov said.

At Crocus City Hall, flames leapt into the sky, and plumes of black smoke rose above the venue as hundreds of blue lights from emergency vehicles flashed in the night.

Helicopters sought to douse flames that engulfed the large building. The roof of the venue was collapsing, state news agency RIA said.

“A terrible tragedy occurred in the shopping centre Crocus City today,” Moscow Mayor Sergei Sobyanin said. “I am sorry for the loved ones of the victims

Share this
Continue Reading

National

PM Sheikh Hasina Congratulates Putin on Election Win

Published

on

sheikh hasina putin

Prime Minister Sheikh Hasina extended her congratulations to Russian President Vladimir Putin for his reelection today (21 March), as confirmed by Deputy Press Secretary Hasan Jahid Tushar.

Putin secured his fifth term in office after a record post-Soviet landslide victory in Russia’s election on Sunday (17 March), solidifying his already firm grip on power. He emphasized the significance of the result, stating that it sends a message to the West about Russia’s assertiveness in global affairs, whether in war or in peace, for years to come.

The outcome positions Putin, aged 71, to embark on a new six-year term, surpassing Josef Stalin to become Russia’s longest-serving leader in over 200 years if he completes it.

With an 87.8% vote share, Putin achieved the highest-ever result in Russia’s post-Soviet history, according to an exit poll by pollster the Public Opinion Foundation (FOM). The Russian Public Opinion Research Centre (VCIOM) also put Putin’s support at 87%. Initial official results validated the accuracy of the polls.

However, several nations, including the United States, Germany, and the United Kingdom, criticized the election, citing concerns over political repression and censorship.

Share this
Continue Reading