April 30, 2019 / 11:35 AM / 4 months ago

Repsol maintains debt for oil operation in Venezuela: CEO

FILE PHOTO: Repsol Chief Executive Officer Josu Jon Imaz delivers a speech during the company's annual shareholders meeting in Madrid, Spain, May 19, 2017. REUTERS/Paul Hanna

MADRID (Reuters) - Repsol is maintaining a debt-for-oil arrangement with Venezuelan state oil firm PDVSA and has received one cargo a month relating to its Petroquiriquire joint venture in the OPEC country, Chief Executive Josu Jon Imaz said on Tuesday.

“We are maintaining these operations of all cargoes from PDVSA to pay the debt they have with Repsol,” Imaz told analysts on a conference call, also referring to five cargoes relating to a debt stemming from the Cardon block in Venezuela.

Reporting by Isla Binnie; Editing by Ingrid Melander

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