Rosneft Subsidiary Leads Talks on Some Venezuela Service Deals
- PDVSA had previously operated all aspects of joint ventures
- Rosneft, PDVSA plan to boost production at joint ventures
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A subsidiary of Rosneft Oil Co. has taken over some contract discussions with local service providers in Venezuela, stepping in for Petroleos de Venezuela SA on joint projects with the state-owned oil company, according to people familiar with the matter.
The move is a major turnabout for PDVSA, which in the past typically operated all aspects of the joint ventures, said the people, who asked not to be named because the talks with the service providers aren’t public.