Less than a minute
106 words
1 view
Venezuela’s state-held oil firm PDVSA has cut its outstanding debt to the largest Russian oil producer, Rosneft, to below US$1 billion, Russia’s oil giant, one of the few companies still dealing with Venezuela, said on Wednesday. In its Q3 results presentation published today, Rosneft said that PDVSA’s debt as at September 30, 2019, had dropped to US$800 million, down from US$1.1 billion as at the end of the second quarter this year. Rosneft has extended US$6 billion of loans to PDVSA, which needs to be fully redeemed through…