US Firm Linked to Trump Donor Buys German Oil Storage Giant TanQuid
The Chronify
Germany has approved the takeover of a major fuel storage operator by a US company despite political and security concerns. The buyer’s parent firm is led by a billionaire donor closely linked to US President Donald Trump.
The Germany has approved the acquisition of TanQuid, a major operator of oil and fuel storage facilities, by US fuel distributor Sunoco, the economy ministry confirmed on Friday.
The decision comes amid strained relations between United States and Germany under Donald Trump, who has imposed tariffs on Europe, questioned the continent’s political direction, and threatened to seize Greenland from NATO ally Denmark.
TanQuid operates 15 fuel storage sites across Germany and one in Poland. Berlin said the deal was approved following a national security review.
“The TanQuid Group is being taken over by a leading, experienced, internationally active company in the field of energy infrastructure and fuel distribution,” a spokeswoman for Germany’s economy ministry said.
However, Sunoco’s parent company is Energy Transfer, a Texas-based energy infrastructure firm led by billionaire CEO Kelcy Warren, a major donor to Trump.
Concerns over the deal were raised last year by lawmakers from Alliance 90/The Greens, who questioned the implications for European energy security. In parliamentary submissions, they warned of potential restrictions on German companies’ access to storage facilities during future geopolitical tensions, given the buyer’s political proximity to the US president.
Environmental group Greenpeace strongly criticised the approval, calling it a “serious mistake.”
“It places critical energy infrastructure in the hands of a US fossil fuel corporation while ignoring legitimate security and climate concerns,” said Greenpeace crisis response expert Nina Noelle.
She added that the decision showed economic interests were being prioritised over long-term security, climate policy, and democratic values.
The decision comes amid strained relations between United States and Germany under Donald Trump, who has imposed tariffs on Europe, questioned the continent’s political direction, and threatened to seize Greenland from NATO ally Denmark.
TanQuid operates 15 fuel storage sites across Germany and one in Poland. Berlin said the deal was approved following a national security review.
“The TanQuid Group is being taken over by a leading, experienced, internationally active company in the field of energy infrastructure and fuel distribution,” a spokeswoman for Germany’s economy ministry said.
However, Sunoco’s parent company is Energy Transfer, a Texas-based energy infrastructure firm led by billionaire CEO Kelcy Warren, a major donor to Trump.
Concerns over the deal were raised last year by lawmakers from Alliance 90/The Greens, who questioned the implications for European energy security. In parliamentary submissions, they warned of potential restrictions on German companies’ access to storage facilities during future geopolitical tensions, given the buyer’s political proximity to the US president.
Environmental group Greenpeace strongly criticised the approval, calling it a “serious mistake.”
“It places critical energy infrastructure in the hands of a US fossil fuel corporation while ignoring legitimate security and climate concerns,” said Greenpeace crisis response expert Nina Noelle.
She added that the decision showed economic interests were being prioritised over long-term security, climate policy, and democratic values.
Related News
📚 Categories
You may like
Deepika Padukone and Ranveer Singh Announce Second Pregnancy
April 20, 2026
Elected News
-
Heavy Reliance on AI Chatbots May Weaken Human Thinking, Researchers Warn
-
Fuel Price Hike Came in Response to Public Demand, Says BNP Leader Rizvi
-
Humanoid Robot Sets New Half Marathon Record in Beijing, Outpaces Human Athletes
-
How to Perform Hajj Properly: Key Guidelines for a Meaningful Pilgrimage
