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Venezuelan PDVSA reduces debt to Rosneft to $0.8 bln in 9 months

In the first half of the year, the debt amounted to $1.1 billion

MOSCOW, November 6. / TASS/. The Venezuelan state-owned oil company PDVSA had reduced its debt to Rosneft to $0.8 billion by September 30, 2019, the Russian company said in a statement on Wednesday.

In the first half of the year, the debt amounted to $1.1 billion.

Since 2014, Rosneft has issued PDVSA funds totaling $6.5 bln in advance payments for the supply of oil and oil products. Rosneft secured a 49.9% stake in Citgo (owned by PDVSA), which owns three oil refineries and a network of gas stations in the United States, as collateral for a $1.5 billion loan.