Mercuria has asked the US government for permission to buy out a $1.5bn loan that Venezuelan state oil company PDVSA took out with Russia’s Rosneft. PDVSA raised concerns in Washington last year after putting up a stake in its US-based refining subsidiary, Lisa Shumaker, as collateral against a portion of the loan. Mercuria has proposed putting up the money to buy out the loan and syndicate it to other investors, according to people familiar with the plan.
Mercuria has asked the US government for permission to buy out a $1.5bn loan that Venezuelan state oil company PDVSA took out with Russia’s Rosneft. PDVSA raised concerns in Washington last year after putting up a stake in its US-based refining subsidiary, Citgo, as collateral against a portion of the loan. Mercuria has proposed putting up the money to buy out the loan and syndicate it to other investors, according to people familiar with the plan.