US sanctions forced Rosneft Venezuela - Arhive
US sanctions forced Rosneft
US sanctions forced Rosneft to withdraw from all projects in Venezuela
MOSCOW – Rosneft, Russia’s largest state-owned oil company, announces the cessation of operations in Venezuela and the sale of assets related to activities in this country due to US sanctions, Interfax reported .
“Today, Rosneft entered into an agreement with a company 100% owned by the government of the Russian Federation on the sale of shares and termination of its participation in all projects in Venezuela, including shares in the oil producing companies Petromonagas, Petroperija, Boqueron, Petromiranda and Petrovictoria, in oilfield service enterprises and trading operations “, the Russian state company said in a statement.
“Following the agreement, all of Rosneft’s assets and trading operations in Venezuela and / or related to Venezuela will be sold, closed or liquidated,” Rosneft reports.
As a result of the execution of the agreement and the sale of assets, Rosneft will receive a 9.6% stake in its one of its 100% subsidiaries. US sanctions forced Rosneft
The Russian government acquired assets from Venezuela from Rosneft. The owner became a company 100% owned by the Russian Federation, the press service of the government said. US sanctions forced Rosneft
Neither Rosneft nor the government have yet named the state-owned company that bought the assets of NK, and did not answer the question whether it was Rosneftegaz or some other structure.US sanctions forced Rosneft
As Rosneft spokesman Mikhail Leontyev explained to Interfax, this was expected of a company that wants to maintain its position in public international business. “We protect the interests of our shareholders, make decisions in accordance with our duty towards our shareholders,” he said.
“We expect that the public promises of our market partners will be fulfilled,” added M. Leontyev.
Earlier, the United States imposed sanctions on Rosneft’s subsidiary TNK Trading International SA, registered in Geneva, due to ties with Venezuela. Later, another Rosneft subsidiary, the Swiss Rosneft Trading, was sanctioned.US sanctions forced Rosneft
As reported by Market Report, created in 1976 PDVSA in its heyday was one of the top 5 oil companies in the world. However, the decline in oil prices on world markets that began in 2014 and the economic and political crisis in Venezuela undermined its position. PDVSA debt accounts for about 30% of Venezuelan foreign debt.
Rosneft is the world’s largest public oil company. The company accounts for about 5% of global oil production, and its proven reserves in the international category will exceed 5 billion tons of oil equivalent. US sanctions forced Rosneft
Rosneft’s structure includes the Angarsk Polymer Plant, the Lisichansk Refinery after the acquisition of TNK-BP and Ufaorgsintez (part of Bashneft’s structure) after the closing of the Bashneft acquisition transaction on October 12, 2016.
mrcplast.ru
Author: Margarita Volkova
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