Russian oil company Rosneft announces cessation of operations in Venezuela

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MOSCOW, Mar 28 (Reuters) – Russia’s largest oil producer Rosneft said on Saturday that it ceased operations in Venezuela and disposed of its assets in the South American country.

The company said it is selling its business in the OPEC member country to a company owned by the Russian government, “including the Petromonagas, Petroperijá, Boquerón, Petromiranda and Petrovictoria joint ventures, as well as oil field services and commercial operations companies. “

The company did not mention the name of the firm to which it sold its business.

Rosneft said it will receive a liquidation payment worth 9.6% of Rosneft’s share capital, which will be in the hands of a subsidiary.

(Report by Gabrielle Tétrault-Farber; Written by Deisy Buitrago)

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