Rosneft Dismisses Claims About Venezuela Offering Russia To Take Over PDVSA As 'Rumors'

Rosneft Dismisses Claims About Venezuela Offering Russia to Take Over PDVSA as 'Rumors'

Russia's Rosneft has dismissed allegations that the Venezuelan authorities are planning to hand it over control over the state-owned oil company PDVSA as "rumors

BUENOS AIRES (Pakistan Point News / Sputnik - 17th October, 2019) Russia's Rosneft has dismissed allegations that the Venezuelan authorities are planning to hand it over control over the state-owned oil company PDVSA as "rumors."

Earlier, Venezuela's opposition El Nacional newspaper reported, citing sources, that the Bolivarian republic had been mulling handing over full control over PDVSA to Rosneft in exchange for the "Russian side" forgiving Venezuela's debt. The newspaper did not specify what debt is meant. It, however, claimed that Russia was allegedly studying this proposal, which does not envisage privatization, but some other legal procedures.

"We do not comment on rumors," Rosneft told Sputnik.

In November 2017, the two countries agreed to restructure Venezuela's debt. At the moment, Venezuela is paying only the interest. The total debt amount equals $3 billion.

In early October 2019, Venezuela provided a new installment of it debt repayment to Russia.

Rosneft, in turn, said in August that PDVSA had reduced its debt to the Russian oil giant on advance payments to $1.1 billion from $1.8 billion.