30 Mar 2020 08:00
ROSNEFT SELLS ITS VENEZUELAN ASSETS AND BECOMES AN OWNER OF 9.6% OF ITS SHARE CAPITAL
March 28, 2020, Moscow - Rosneft announces the termination of its operations in Venezuela and the disposal of its assets, related to operating in Venezuela.
Today Rosneft concluded an agreement with the company 100% owned by the Government of Russian Federation, to sell all of its interest and cease participation in its Venezuelan businesses, including joint ventures of Petromonagas, Petroperija, Boqueron, Petromiranda and Petrovictoria, as well as oil-field 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.
Rosneft Information Division
Tel.: + 7 (499) 517-88-97
March 28, 2020
These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.