Reuters – from dailstar lebanon
MOSCOW: Russian oil producer Rosneft does not expect oil output to decline at its projects in Venezuela this year, Rosneft’s First Vice President Eric Liron said on a conference call Tuesday.
The oil producer also said Venezuela has been servicing its debts to the company on time.
Rosneft’s operations in Venezuela have come into focus as the country has been plunged into political turmoil and the United States imposed sanctions on state oil company PDVSA last week.
Rosneft sees the current situation in Venezuela as temporary, Liron said.
It said earlier Tuesday that the principal amount of debt owed to it by PDVSA stood at $2.3 billion at the end of the fourth quarter, down from $3.1 billion at the end of the previous three months
