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Commodities

Venezuela's PDVSA debt to Russia's Rosneft down to $1.1 billion in second quarter

FILE PHOTO: A state oil company PDVSA's logo is seen at a gas station in Caracas, Venezuela May 17, 2019. REUTERS/Ivan Alvarado

MOSCOW (Reuters) - Venezuelan state-owned oil company PDVSA had lowered its outstanding debt to Rosneft to $1.1 billion by the end of the second quarter, from $1.8 billion as of the end of the first quarter, Rosneft said on Wednesday.

Rosneft, Russia’s largest oil producer, also said its net debt rose to $45.7 billion in the second quarter from $43.9 billion at the end of the first three months of 2019.

Reporting by Maria Grabar; writing by Anton Kolodyazhnyy; editing by David Evans

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