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CARACAS, Monday January 28, 2013 | Update
 
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HYDROCARBONS

Russian TNK-BP sells Rosneft its stake in Petromonagas

Pdvsa President Rafael Ramírez specified that TNK-BP assigned its 16.7% share in upgrader Petromonagas to Rosneft. The remaining 83.7% will be held by Pdvsa

Pdvsa holds 83.7% of the shareholding in upgrader Petromonagas (File photo)
EL UNIVERSAL
Monday January 28, 2013  04:13 PM
Oil company TNK-BP, the third largest oil driller in Russia, has sold its interest in the Venezuelan joint venture Petromonagas to Russian state-oil holding Rosneft, Venezuelan Minister of Petroleum and Mining and President of state-owned oil company Petróleos de Venezuela (Pdvsa), Rafael Ramírez, disclosed on Monday.

Pdvsa President Rafael Ramírez specified that TNK-BP assigned its 16.7% share in upgrader Petromonagas to Rosneft. The remaining 83.7% will be retained by Pdvsa, Reuters cited.

Ramírez said that an investment plan with Rosneft for USD 37.71 billion up to 2012 is expected to be made formal on Tuesday.
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One crisis, two visions

A group of some 60 Venezuelan economists from across the country and from different generations and backgrounds, has met regularly in the past couple of years and now has brought forth a document explaining the reasons of the current emergency and outlining specific proposals on how to address the serious economic crisis the country has plunged into over the last three years.

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