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News // Oil and gas worldwide

Russia and Cuba Sign Oil and Nickel Deals

26 January 2009 , 11:47897
A Gazprom-led consortium that Russia's largest oil and gas companies created last year to develop fields in Venezuela signed a cooperation agreement with Cuba Petroleum on Friday.

The sides will work together in exploration, production and refining. In addition to Gazprom, the consortium comprises Rosneft, LUKoil, TNK-BP and Surgutneftegaz.

Norilsk Nickel agreed Friday to fund exploration of ore reserves in Cuba with the prospect of mining them in the future.

The chief of the Cuban delegation, Deputy Prime Minister Ricardo Cabrisas, said work was under way on more agreements that will be ready for Castro's visit.

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