Venezuela's PDVSA Paying Off Debt To Russia's Rosneft As Scheduled - Rosneft Top Manager

Venezuela's PDVSA Paying Off Debt to Russia's Rosneft as Scheduled - Rosneft Top Manager

Venezuelan oil company PDVSA is paying off the debt it owes to Russia's Rosneft as scheduled, Rosneft Vice President for Commerce and Logistics Otabek Karimov said on Wednesday

MOSCOW (Pakistan Point News / Sputnik - 19th February, 2020) Venezuelan oil company PDVSA is paying off the debt it owes to Russia's Rosneft as scheduled, Rosneft Vice President for Commerce and Logistics Otabek Karimov said on Wednesday.

"Everything is going on as scheduled, we do not disclose more detailed information," Karimov said, when asked how many deferrals Venezuela discharged in the fourth quarter of 2019.

Rosneft has given to PDVSA around $6.5 billion in advance payments for oil deliveries. The Venezuelan state oil company is expected to settle the debt fully by the end of 2020. As of the third quarter of 2019, its advance payments arrears amounted to $800 million.