The head of the office, Andrei Grishayev, told the state news agency RIA Novosti that it was registered in Russia this week. "The company is functioning. It is registered (in Russia) and is in the process of starting work," Grishayev was quoted as saying. PDVSA, once the jewel in the crown of the Venezuela economy, has been hamstrung by debt and a lack of investment that has shrunk output.
Tough US sanctions have further choked off Venezuela's ability to capitalise on its massive oil resources.
During a visit to Moscow in March this year, Venezuela's Vice President Delcy Rodriguez said her government would move PDVSA's offices from Lisbon to the Russian capital.