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Rosneft to Help Venezuela
Energy

Rosneft to Help Venezuela

Russia’s state-owned oil company may provide its Venezuelan counterpart a much needed loan of $5 billion. Venezuela’s oil company, PDVSA, is in desperate need of capital in order to help boost oil and gas production. In exchange for the loan, Reuters reports that Rosneft could gain greater access to PDVSA’s oil and gas reserves. The loan comes only a few weeks after Rosneft agreed to invest $14 billion to help boost Venezuelan oil and gas.

 

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