June 21, 2017 / 1:48 PM / 2 years ago

Rosneft's Sechin says will never leave Venezuela

MOSCOW, June 21 (Reuters) - Russia’s Rosneft, the world’s top listed oil company by output, will continue to work in Venezuela and will never leave the country, its Chief Executive Igor Sechin told reporters on Wednesday. “We will never leave Venezuela,” Sechin said. Rosneft has a number of tight oil projects in Venezuela, which is in the grips of an economic and political crisis.

Rosneft has lent its Venezuelan counterpart PDVSA between $4 billion and $5 billion in recent years, according to Reuters calculations.

The Russian firm has been gaining ground in Venezuela as the cash-strapped leftist government scrambles for cash. (Reporting by Denis Dyomkin; Writing by Katya Golubkova; Editing by Alexander Winning)

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