Rosneft says no talks over acquisition of Gazprom Neft’s share in National Oil Consortium underway

MOSCOW, April 20. /TASS/. Russia’s oil producer Rosneft has denied rumors on its plans to buy out Gazprom Neft’s share in the National Oil Consortium in Venezuela, the company’s representative told TASS Monday. "The company iterates that it is not carrying on talks on buying out the share of Gazprom Neft in the National Oil Consortium in Venezuela. Those are rumors having nothing to do with reality. There is no need in fighting words as they are groundless," he said. Earlier TASS reported with reference to a source close to the consortium that Rosneft plans to buy out a 20% stake owned by Gazprom subsidiary Gazprom Neft in the National Oil Consortium producing oil in Venezuela. "You are right," the source said when asked whether Rosneft, which holds 80 percent in the consortium, plans to increase its share to 100 percent by buying Gazprom Neft’s stake. He added that Venezuela’s state oil and gas company PDVSA, the National Oil Consortium’s partner on development of Junin-6 deposit, is interested in Rosneft’s operation in Venezuela. [[Full story available for subscribers of TASS Economic & Business News Service, for more information and trial access please contact us at +7 (499) 791 0307, rusmarket@tass.ru]] Read more