November
26, 2004
Oil tops Chávez
talks in Russia
(BBC News) - "Venezuelan President
Hugo Chávez has met Russia's President
Vladimir Putin in Moscow to discuss co-operation
between their huge energy industries.
The visit is expected to result in an
agreement on a joint venture between Russian
oil giant Lukoil and the Venezuelan oil
company PDVSA. Lukoil plans to invest
$1bn in the development of oilfields in
North-East Venezuela. Both Russia and
Venezuela are among the world's top five
oil producers.
The presidents are also to discuss military
co-operation and sign a protocol concerning
Russia's accession to the World Trade
Organization. Venezuela is a WTO member,
so its consent is needed for Russia to
join (...)".
