UPDATE: Russia sets up Roszarubezhneft, US promises to track it

(rewrites headline, lede)

MOSCOW/WASHINGTON, Mar 31 (PRIME) – Russia established Roszarubezhneft on March 28, as seen by PRIME in the Unified State Register of Legal Entities materials on Tuesday, and U.S. Special Representative for Venezuela Elliott Abrams said that the U.S. will scrutinize the company and will track its activities.

The company is registered in Moscow. Nikolai Rybchuk was appointed as CEO, capital stands at 22.752 billion rubles.

According to the Federal State Property Management Agency, Roszarubezhneft’s activities include management of holding companies, production of oil and oil gas, provision of services in oil and gas production, and pipeline transportation.

Reyestr-RN is an administrator of the shareholder register of the new company. Reyestr-RN is known for being an administrator of the shareholder register of oil major Rosneft.

On March 28, Rosneft ceased operations in Venezuela and sold all assets in the country to a Russian state-owned company to receive own shares in the amount of 9.6% as a result of the deal.

As of March 1, state oil and gas holding Rosneftegaz held 50.00000001% in Rosneft, British oil giant BP had 19.75%, sovereign fund Qatar Investment Authority (QIA) owned 18.93%, and Swiss commodity trader Glencore held 0.57%. The Federal State Property Management Agency had one share in Rosneft.

(77.7325 – U.S. $1)

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