Rosneft announced on Saturday the termination of its activities in Venezuela and selling of all assets in the country to a Russian state-owned company, adding that the company would receive its own shares in the amount of 9.6 percent as a result of the transaction
MOSCOW (Pakistan Point News / Sputnik - 28th March, 2020) Rosneft announced on Saturday the termination of its activities in Venezuela and selling of all assets in the country to a Russian state-owned company, adding that the company would receive its own shares in the amount of 9.6 percent as a result of the transaction.
"Today, Rosneft has signed an agreement with a company that is fully owned by the Russian government on the sale of shares and termination of its [Rosneft's] participation in all projects in Venezuela, including shares in the production enterprises of Petromonagas, Petroperija, Boqueron, Petromiranda and Petrovictoria, in oilfield service enterprises and trading operations. According to the agreement, all assets and trading operations of Rosneft in Venezuela and/or related to Venezuela will be sold, closed or liquidated," Rosneft said in a press release.
The press office of the Russian government confirmed to Sputnik that the state-owned company bought shares of Rosneft in Venezuela.
"The Russian government acquired assets in Venezuela from Rosneft. The owner is a company fully owned by Russia," the press office said.
