Rosneft sold its assets in Venezuela

The Russian company Rosneft sold its assets in Venezuela to a company that is 100% owned by the Russian government. It is reported by Enkorr.

Rosneft also completely ceased operations in the country.

According to Russian media, in exchange for the Venezuelan business, Rosneft in return received from Rosneftegaz 9.6% of its own shares with an estimated value of 300 billion rubles or $4 billion. The state’s stake in Rosneft formally dropped below 50%.

We are talking about stakes in the mining companies Petromonagas, Petroperija, Boqueron, Petromiranda and Petrovictoria, in oilfield service companies and trading operations.

“We protect the interests of our shareholders, make decisions in accordance with our duty to our shareholders”, said Mikhail Leontyev, Rosneft spokesman. He also added that Rosneft wants to maintain its position in international business.

America imposed sanctions against a subsidiary of Rosneft.

Earlier it was reported that the level of oil production and supply in Venezuela had fallen sharply after the introduction of US sanctions.

Tags: contracts, oil, hydrocarbon production, court, legislation, Top management, USA, energy market, добыча нефти, drilling, RF, Oil refinery plant, sanctions, foreign affairs, ОПЕК+, volumes, oil products, oil deliveries, well, field, infrastructure, energy sector, Brent, WTI

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