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Rosneft confirmed position on Venezuela

Rosneft affirmed its position concerning the activity in Venezuela, the company informed in response to declaration of Elliott Abrams, US special representative.

It was noted that Rosneft is an investor into the oil/gas sector in Venezuela, and any attempts to restrict activity of the Company or its subs in Venezuela undertaken by the US officials should be considered as illegal. Thus, Rosneft is ready to protect its right of investments at the appropriate national or international bodies.

The threats of US sanctions against the Company should be interpreted as unfair competition aimed to obtain advantages on the world market.

The crude shipment to Russia and counter petrol deliveries to Venezuela are executed in line with the contracts concluded before the introduction of any sanctions.

Besides, US officials' position is aimed to strengthen the world tension and to provoke negative impact for the investment value of the Company.

Rosneft (TIN 7706107510) is the largest oil company in Russia. The proved reserves exceed 37.7bn barrel.

The share capital is equal 105.981mln rub. split in 10598177810 common stocks of 0.01 rub. par. On Sep. 1, 2017 the major holders involved Rosneftegaz (50%+1), BP Russian Investments Limited (19.75%), QHG Oil Ventures Pte. Ltd. (JV set up by Glencore and QIA, 19.5%). The Company is keeping the largest retail sale network (3000 fuel stations in 66 regions) in Russia.

The IQ 2019 net profit as of the holders (IAS) rallied up 61.7% to 131bn rub. from 81bn rub.; revenues from sales and income of associated JVs increased 20.6% up to 2.077tril rub. from 1.722tril rub.; EBITDA - 42.3% to 548bn rub. from 385bn rub.

"AK&M", 16:24, 10.09.2019 1251 COR,AKM


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