June 17, 2015 / 6:00 PM / 4 years ago

Russia's Rosneft negotiating $5 bln loan to Venezuela's PDVSA - source

MARACAIBO, Venezuela, June 17 (Reuters) - Venezuelan state oil company PDVSA and Rosneft are negotiating a deal that could see the Russian oil major lend its South American counterpart $5 billion dollars, a source close to the negotiations said on Wednesday.

In return, the source said, Rosneft wants to increase participation in the Petromonagas joint venture, invest in and export gas instead of selling it at a major discount on the price-controlled local market, gain more control of operations and oil sales, and increase security at operations. (Reporting by Alexandra Ulmer; Editing by Andrew Cawthorne and Tom Brown)

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