Report: Venezuelan parliament against Rosneft’s stake rise in JV

MEXICO, Feb 10 (PRIME) -- The opposition-led parliament of Venezuela approved an agreement on protest against a sale of a stake in Russian–Venezuelan joint venture Petromonagas to Russian oil major Rosneft, newspaper El Universal reported on Friday.

In 2016, Rosneft closed a deal to raise its stake in Petromonagas to 40% by buying an additional 23.33% in the company for U.S. $500 million from Venezuela’s PDVSA.

National Assembly Member Elias Mata called the deal unlawful, saying that it was necessary to ask for a parliament’s approval before closing it. The parliament unanimously voiced a protest against the deal.

End