Russia’s Rosneft terminates Venezuela operations, sells assets

Rosneft is Russia’s largest oil producer. (File photo: AP)

Russia’s largest oil producer, Rosneft, said on Saturday it had terminated operations in Venezuela and disposed of its assets relating to its operations there.

The company said it was selling its Venezuelan businesses to a company owned by the Russian government, “including in the joint ventures of Petromonagas, Petroperija, Boqueron, Petromiranda and Petrovictoria, as well as oil-field services companies, commercial and trading operations.”

It did not name the company to which it had sold its operations.

It said that it would be receiving a settlement payment worth a 9.6 percent share of Rosneft’s equity capital that will be held by a subsidiary.

SHOW MORE
Last Update: 07:06 KSA 10:06 - GMT 07:06
Top