Venezuelan Lawmakers Doubt Rosneft Deal to Block Investments - Oil Minister

© Sputnik / Alexandr Demyanchuk / Go to the mediabankThe Rosneft pavilion at the 2015 St. Petersburg International Economic Forum
The Rosneft pavilion at the 2015 St. Petersburg International Economic Forum - Sputnik International
Venezuela’s opposition-controlled parliament doubts the legality of a recent investment agreement with the Russian energy giant Rosneft as an attempt to block investments, Oil Minister Eulogio del Pino told Sputnik on Wednesday.

MOSCOW (Sputnik) — In March, Venezuela’s unicameral parliament questioned the legality of a deal announced a month earlier which would envision Rosneft increasing its stake in a regional oil venture. The National Assembly claimed it was illegal because the government had overstepped it in making it.

"[Rosneft’s participation] is a political tool to try to block investments in Venezuela. It is an opposition that wants to block investments," del Pino said at the oil and gas conference in Moscow.

In February, President Nicolas Maduro called Rosneft’s agreement with Venezuela’s state-owned Petroleos de Venezuela oil and gas company (PDVSA) on additional investments in Venezuela’s oil industry in the amount of $500 million necessary investment for the future.

Rosneft and PDVSA are actively cooperating on five major joint projects — PetroMonagas, Petroperija, Boqueron, Petrovictoria and PetroMiranda.

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