Thursday, December 14, 2017

Rosneft Says Citgo Stake is Collateral in PDVSA Deal

Posted by May 18, 2017

Igor Sechin, the head of Russia's largest oil producer Rosneft, said on Thursday the company received a stake in Citgo firm as collateral in its deal with Venezuela's state oil company PDVSA.

Sechin said it got the collateral as Rosneft made prepayment to PDVSA for oil supplies. Citgo is the U.S. refining and marketing unit of PDVSA.
(Reporting by Katya Golubkova; writing by Vladimir Soldatkin)

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