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Members of the U.S. congressional Committee on foreign Affairs has urged the Finance Ministry to verify the transaction “Rosneft” and the Venezuelan oil company PDVSA, under which the Russian company transferred a lien on the assets of PDVSA in the United States
Members of the U.S. congressional Committee on foreign Affairs called on Finance Minister of the country Stephen Mnuchin to investigate the deal between Rosneft and the Venezuelan oil company Petróleos de Venezuela S. A. (PDVSA), the letter (with document reviewed RBC) two members of the Subcommittee on the Western hemisphere of Jeff Duncan and Albie Sirasa sent to the address headed by Mucinum of the Committee on foreign investment in the United States.
As part of the transaction “Rosneft” has received lien 49.9% of American refinery operator and oil Citgo Holding. Lawmakers called on the Committee to immediately verify the transaction. In their opinion, it could “seriously undermine national security and energy independence of the United States”.
In exchange, Rosneft, PDVSA has provided a loan of $1.5 billion, according to the lawmakers, citing testimony given during the hearings in their Subcommittee on March 28. “Rosneft” in its report for the year 2016 reflected the four of the advance payment to PDVSA for a total of $1,485 billion in the framework of the contract for the supply of oil. The company announced about the transition of her liens on Citgo. PDVSA in its report for the year 2016 announced credit obligations to Rosneft for $1,985 billion
“Taking into account the unstable economic and political situation in Venezuela, I am deeply concerned that a default in Venezuela could lead to the fact that the rights of ownership to Citgo can go to “Rosneft”, the statement said Duncan, seen by RBC. “It will give Russia tangible control over the sixth largest refinery of the United States, the ability to influence gas prices for the American people, and strategic advantage over freedom of US actions around the world,” — follows from the statement.
Commenting on his relationship with PDVSA, “Rosneft” has informed in release of 6 January that “all transactions of Rosneft with foreign partners is carried out in accordance with international law and those legal regimes within which these transactions are carried out”. The Committee on foreign investment U.S. (CFIUS) in addition to civil Ministers consists of representatives from intelligence and law enforcement agencies. At the end of 2014, it was CFIUS has blocked the transaction on purchase “Rosneft” oil trade Morgan Stanley, wrote RBC.
Previously, the Citgo assets were the subject of lawsuits against Rosneft Trading S. A. by two of the creditors of the PDVSA — the canadian gold mining company Crystallex and subsidiaries American ConocoPhillips, the largest by reserves and production independent oil company in the United States and the world. In both lawsuits it is alleged that “Rosneft” became a member of the scheme “fraudulent transfer of assets” (fraudulent transfer), under which Venezuela and PDVSA conducted a “deliberate campaign to eliminate the cost of CITGO and the withdrawal of assets from the United States to Venezuela to prevent the creditors and to mislead them.
RBC sent a request to Rosneft and the U.S. Treasury.
The total capacity of the three refineries owned by Citgo — 749 thousand Barr./day. Refinery in lake Charles, Louisiana, is the largest with a capacity 427,8 thousand Barr./day (the sixth place among American refinery). Power plants in Lemont (Il) and Corpus Christi (TX) is 176 thousand and 158 thousand barrels./day respectively.
A distinctive feature of the refinery capacity to process heavy sour crude oil, which accounts for 57% of their raw materials. In addition, full and partial ownership of Citgo located oil terminals and pipelines throughout the country. According to the results of 2013, revenue Citro Petroleum (controlled by Citgo Holding) amounted to $42 billion, profit — $1.8 billion, follows from the materials of the court of Delaware. The company is not public, so the public information about its financial performance a bit.