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Rosneft, PDVSA Sign Strategic Partnership Pact – Venezuela Energy Ministry

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Russian oil company Rosneft and Venezuela’s state-owned Petroleos de Venezuela (PDVSA) signed an agreement on working together on Venezuela’s shale oil... 28.07.2016, Sputnik International

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Rosneft, PDVSA Sign Strategic Partnership Pact – Venezuela Energy Ministry

17:04 GMT 28.07.2016 (Updated: 17:13 GMT 28.07.2016)

© AP Photo / Fernando LlanoStorage tanks stand in a PDVSA state-run oil company crude oil complex near El Tigre, a town located within Venezuela's Hugo Chavez oil belt, formally known as the Orinoco Belt

Storage tanks stand in a PDVSA state-run oil company crude oil complex near El Tigre, a town located within Venezuela's Hugo Chavez oil belt, formally known as the Orinoco Belt - Sputnik International

Russian oil company Rosneft and Venezuela’s state-owned Petroleos de Venezuela (PDVSA) signed an agreement on working together on Venezuela’s shale oil development, as well as oil and petroleum products trading, according to Venezuela's Energy Ministry.

MOSCOW (Sputnik) — Russian oil company Rosneft and Venezuela’s state-owned Petroleos de Venezuela (PDVSA) signed on Thursday a deal on strategic partnership between the two energy companies, Venezuela's Energy Ministry said.

"Today we are signing important agreements between Rosneft and PDVSA. A strategic alliance!" the South American nation’s Energy Ministry tweeted.

A source close to the talks between the two national energy giants told RIA Novosti that the companies planned to work together on Venezuela’s shale oil development, as well as oil and petroleum products trading.