Rosneft is not negotiating on the purchase of Gazprom Neft’s stake in National Petroleum Consortium

​Rosneft rejects that the company is negotiating on the purchase of Gazprom Neft’s stake in the National Petroleum Consortium in Venezuela. It is only rumors, representative of Rosneft said.

Rosneft was reported to plan to purchase a 20% stake of in Gazprom Neft in the National Petroleum Consortium which holds oil extraction in Venezuela. PDVSA (Venezuela), partner of National Petroleum Consortium on the development of the Khunin-6 deposit, supports the active interest of Rosneft in Venezuela and approves the expansion of its operations.

PDVSA via its affiliate Corporacion Venezolana del Petroleo /CVP/ hols 60% in the JV Petromiranda which develops the Khunin-6. National Petroleum Consortium holds 40% in the JV. Previously Rosneft purchased the stakes of Surgutneftegas and Lukoil in National Petroleum Consortium.

Gazprom Neft refused to comment. A source close to the company said it is not ready to sell its stake.