Rosneft sells Venezuelan assets to Russian government

The company has concluded an agreement with the Russian government to sell all of its interest to a state-owned company and cease participation in its Venezuelan businesses, including joint ventures (JVs) of Petromonagas, Petroperija, Boqueron, Petromiranda and Petrovictoria, as well as oilfield services companies, commercial and trading operations.

As a result of the concluded agreement all assets and trading operations of Rosneft in Venezuela and/or connected with Venezuela will be disposed of, terminated or liquidated.

The concluded transaction and the sale of assets will result in Rosneft receiving as a settlement payment a 9.6% share of Rosneft’s equity capital that will be held by a 100% subsidiary of Rosneft and accounted for as treasury stock.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/30032020/rosneft-sells-venezuelan-assets-to-russian-government/