Rosneft sells its Venezuelan belongings

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Russian state oil big Rosneft introduced on March 28 the termination of its operations in Venezuela and the disposal of its belongings, associated to working in Venezuela.

“Today Rosneft concluded an agreement with the company 100% owned by the Government of Russian Federation, to sell all of its interest and cease participation in its Venezuelan businesses, including joint ventures of Petromonagas, Petroperija, Boqueron, Petromiranda and Petrovictoria, as well as oil-field services companies, commercial and trading operations,” Rosneft stated in a press launch.

According to Rosneft, because of the concluded settlement all belongings and buying and selling operations of Rosneft in Venezuela and/or related with Venezuela can be disposed of, terminated or liquidated.

The concluded transaction and the sale of belongings will lead to Rosneft receiving as a settlement cost a 9.6% share of Rosneft’s fairness capital that can be held by a 100% subsidiary of Rosneft and accounted for as treasury inventory, Rosneft stated.