The struggle for dominance in the oil market does not stop for a minute. Sometimes it is full of contradictory news such as possible transfer of Venezuela’s PDVSA to Russia’s Rosneft. According to President of the National Assembly of Venezuela Diosdado Cabello, this data does not reflect the reality. He denied possible transfer allegations of PDVSA to Russia in exchange for cancellation of Venezuelan debt.

The politician noted that Venezuela is on good terms with Russian officials. However, nobody is talking about PDVSA deal. Previously, the information about possible handover appeared in El Nacional. Newspaper representatives said that Russian officials allegedly came to Venezuela to evaluate the state of PDVSA and considered possible job cut.

Rosneft refused to give comments on the matter. However, the Ministry of Foreign Affairs of Russia claimed that Venezuelan opposition was responsible for the rumors. Regarding Venezuela’s debt and PDVSA liabilities, their amount has reached $100–$150 billion. Half of it (around $60 billion) accounts for the government bonds, $20 billion are the country’s obligations to China, and $3.15 billion to Russia, as well as $3.1 billion are commitments to Rosneft. Moreover, Venezuela owes $5 billion to other international lenders, experts say.

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