Venezuelan Parliament opposed the sale of Rosneft’s share in Petromonagas

Controlled opposition the National Assembly of Venezuela on Thursday, February 9, endorsed the statement calling the illegal sale of shares of the company Petromonagas Russian “Rosneft”. It is reported by El Universal.

As stated by the Deputy Elias Mata, such a transaction is a violation of the Constitution of the country — a number of articles require to negotiate the sale of such assets with the Parliament.

The national Assembly has the selling of state property the government of “treason” and demanded to refer to respect for the Constitution.

In 2016 Rosneft has closed a deal with Venezuela’s PDVSA to increase the share of Russian companies in the joint venture Petromonagas to 40 percent. At PDVSA purchased an additional 23.33 percent, the amount of the transaction amounted to 500 million dollars.

Agreement under which the Russian company will invest $ 500 million to develop oil fields in the oil-rich Orinoco belt, was signed on February 19 last year, in the presence of President Nicolas Maduro.

The total area of the oil belt of the Orinoco is 55 thousand square kilometers. In these deposits lies more than 235 billion barrels of recoverable heavy and extra-heavy crude oil. They are considered one of the largest oil fields in the world.

In the last election the majority of seats in the Parliament of Venezuela was received by the opposition. A political crisis is unfolding against the backdrop of economic problems caused by the fall in world oil prices — the main export commodity of the Republic.