Thursday, May 18, 2017

Russian Rosneft confirms it has Citgo stake as collateral in deal with Venezuelan PDVSA

BERLIN May 18 (Reuters) - 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; editing by Polina Devitt) ....