Novak announces that Russia is interested in increasing oil production in Venezuela

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Russia is interested in increasing oil production in projects with its participation in Venezuela. At the same time, local companies are asking Russian companies to continue working in the local market. declaration Deputy Prime Minister Alexander Novak is on the air on Rossiya-1 TV channel.

“We are also interested in increasing production, on-time placement and product sales in the projects we are involved in. Venezuelans not only confirm, they want our companies to continue operating in Venezuela,” he said.

According to him, Russian companies remain the only foreign players in the Venezuelan commodity market. At the same time, cooperation between the two countries is not limited to oil production projects – cooperation in the gas sector is planned in the future.

“Five joint projects are implemented here, oil is produced. Today we are expanding this cooperation to include the gas industry, we have two projects in the future,” he said.

November 28 The Wall Street Journal knowledgeableDespite the easing of US sanctions, a significant increase in oil supply from Venezuela is unlikely in the near future. This is due to the fact that Chevron, which was allowed by the US authorities to import raw materials from Venezuela, had to complete a number of technical tasks.

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