Russia and Venezuela negotiate actions to increase their oil production

Russia and Venezuela are holding talks to increase oil production and seek new markets, said the Eurasian nation’s ambassador in Caracas, Sergey Melik-Bagdasarov, on April 13.

“It is necessary to produce more and more oil, to look for new markets”, declared Melik-Bagdasárov to the local radio station Unión Radio.

The statement refers to the purposes of recent meetings between the general director of the Russian oil company Rosneft, Igor Sechin, and the president of Petróleos de Venezuela (PDVSA), Pedro Tellechea.

In March, Caracas and Moscow defined an agenda to increase oil production and complement their potential with crude oil and gas.

Russian Deputy Prime Minister Alexander Novak visited Venezuela last December to participate in the 16th meeting of the High-Level Intergovernmental Commission.

Russia and Venezuela signed 11 new cooperation agreements, including a cooperation plan for the fight against drug trafficking from 2023-2025.

Caracas and Moscow share 326 cooperation agreements in the commercial, military-technical, energy, agriculture, food, transportation, science, and technology areas.

According to the Venezuelan Government, Russia has become a strategic partner in facing the sanctions imposed by the United States and some European countries.

With information from Sputnik

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