Rosneft placed deposits for trading transactions, M&A, crude oil supplies to Cuba, Venezuela
MOSCOW. Feb 22 (Interfax) - Rosneft made market linked deposits in 2016 to participate in trading transactions and current M&A transactions and to finance crude oil supplies to Venezuela and Cuba, Rosneft said in consolidated financials for 2016.
Rosneft had 905 billion rubles in "other short-term financial assets and part of bank deposits" as of the end of 2016, compared with 489 billion rubles as of September 30, 2016 (and just over 1 trillion rubles as of December 31, 2015).
"In 2016 Company made some market linked deposits to participate in trading transactions and in current M&A transactions and to finance crude oil supplies to Venezuela and Cuba. Deposits are placed in Russian high-rated banks with possible 1 year-term of repayment," Rosneft said.
It was reported earlier that Rosneft's net debt rose to 1.89 trillion rubles as of the end of 2016, 11.6% more than a year earlier.
