Pdvsa cuts its debt to Russian Rosneft

Venezuelan oil company Pdvsa reduced its debt
Russian company Rosneft from $1.8 billion to $1.1 billion in the
second quarter 2019, Rosneft’s presentation is reported.

According to the data of the Russian company, the debt of the PDVSA to the
end of 2018 amounted to $2.3 billion.

At the end of September 2018, the debt was 3,100
millions of dollars; by the end of June 2018, $3.6 billion; To
end March 2018, $4 billion, and at the end of 2017, $4,600
millions of dollars.

Last February the first vice-president of the Russian
Rosneft, Pavel Fyodorov, reported that Venezuela’s oil company PDVSA complies
the payment schedule for debt to the Russian company.

The total cancellation of the debt, through the delivery of the
oil and derivatives, is scheduled for late 2020.

Rosneft participates in Venezuela in Petromonagas projects
(controls 40%), Petromiranda (32%), Petroperijá (40%), Boquerón (26.67%)
petrovictoria (40%).

In addition, it owns 100% of the gas exploration project for the Venezuelan continental shelf deposits Mejillones and Patao with the right to export, 100% of the oil services company Precision Drilling and 51% of the company Perforosven.


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