Report: PDVSA raises oil supplies to Rosneft to redeem liabilities

MOSCOW, Aug 9 (PRIME) -- Venezuelan state oil company PDVSA delivered a part of overdue oil product shipments to China’s PetroChina in February, and was able to raise oil deliveries to Russian oil major Rosneft reducing its debt to the company, Bloomberg reported late on Wednesday citing a source familiar with the matter.

PDVSA delivered a final overdue batch of light oil products to PetroChina in February, and now the company is able to focus on supplies to Rosneft under prepayments that the Russian company paid earlier, the source said.

PDVSA still owes millions of barrels of oil and fuel oil to PetroChina as debt repayment, the source added.

Rosneft said in is financial report earlier that PDVSA redeemed U.S. $1 billion of debts to the Russian company since late 2017, and that the debt about to $3.6 billion as of June 30, 2018.

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