[OilPrice.com Blog] Russia’s Gazprombank leaves Venezuela. Rosneft stays.

Russia’s Gazprombank leaves Venezuela. Rosneft still stays.Moscow, Russia. March 15, 2019

Gazprombank is minimizing risks in Venezuela. The bank has sold a 17% stake in GPB Global Resources which, in turn, owns 40% of Petrozamora, a joint venture with PDVSA, Reuters stated on March 14. The bank has confirmed the fact of leaving the joint venture without specifying any details. Rosneft has become the only Russian company with large assets there, Kommersant noted. According to Reuters, the Russian giant oil company has lost about $9 billion on its investments in Venezuela since 2010…

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A geophysicist by education, Aleksei Afonin has worked for 15 years as an offshore geophysical engineer, 13 years as a freelance technical translator, and 5 years as a freelance content writer. He has taken part in hydrographic and seismic survey projects for oil and gas industry leaders such as Shell, British Petroleum, Chevron, Gazprom, and other major companies. Geotechnical, geophysical, and hydrographic surveys are his main areas of expertise.
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