February 5, 2019 / 12:42 PM / a year ago

Venezuela's PDVSA debt to Russia's Rosneft down to $2.3 billion in fourth quarter

FILE PHOTO: The corporate logo of Venezuelan state-owned oil company PDVSA is seen at a gas station in Cupira, Venezuela December 16, 2018. REUTERS/Marco Bello

MOSCOW (Reuters) - Venezuelan state oil company PDVSA’s principal amount of debt to Russian oil producer Rosneft stood at $2.3 billion at the end of the fourth quarter, down from $3.1 billion at the end of the previous three months, Rosneft said on Tuesday.

The oil producer said its outlook for crude oil and gas condensate production in 2019 implied growth of between 3 and 4.5 percent from 2018 levels, depending on the implementation of a global oil output deal in the first half of the year.

Reporting by Vladimir Soldatkin and Olesya Astakhova; writing by Tom Balmforth; editing by Louise Heavens

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