Five Russian oil companies have taken an equal share in a deal to produce and refine Venezuelan oil, Russian news agencies reported Sunday.
Rosneft, Lukoil, joint Russian-British venture TNK-BP, Surgutnefnegaz and Gazprom each acquired a 20 percent stake of a company incorporated in Venezuela in October, the chief executive of Russia's top oil producer Rosneft, Sergei Bogdanchikov, told journalists during a visit to Havana.
Oil reserves in Venezuela's Orinoco region are the focus of a series of projects being run in tandem with the Venezuelan government, with deputy Russian Prime Minister Igor Sechin telling ITAR-TASS that improvements to refining the regional output are a key focus.
Author: Jo Amey
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Russian Companies Make Oil Refining Deal in Venezuela
Five Russian oil companies have taken an equal share in a deal to produce and refine Venezuelan oil