SCO stands for coordination of efforts in fight against terrorist threatWorld October 29, 0:42
Russia does not plan to ratify Paris Agreement on climate earlier than 2020 — ministerRussian Politics & Diplomacy October 28, 21:48
Russian Foreign Ministry: Pictures of attacked school in Idlib are 'computer graphics'World October 28, 21:21
Kissinger becomes Russian Academy of Sciences memberWorld October 28, 21:12
Kremlin gives no comment on reports that Russian, US jets flew dangerously close in SyriaRussian Politics & Diplomacy October 28, 20:13
Two of four Soyuz crews to fly to ISS in 2017 will be smaller than usualScience & Space October 28, 20:05
Foreign Ministry: Two mortar shells fired on Russian embassy in SyriaRussian Politics & Diplomacy October 28, 19:52
Kremlin: Russia may use all available means against terrorists in AleppoRussian Politics & Diplomacy October 28, 19:26
Russian Foreign Ministry refutes reports about alleged deportation of Russians from SerbiaRussian Politics & Diplomacy October 28, 19:07
CARACAS, January 16. /TASS/. Venezuela and Russia have reached an agreement to step up investment and participation of Russian companies in development of Orinoco Belt oil reserves and other projects, Venezuelan President Nicolas Maduro said on Thursday after a meeting with Russian President Vladimir Putin in Moscow.
The press service of the Venezuelan presidential administration cited the president as saying the step was part of a plan to protect the oil market and strengthen the strategic alliance with Russia in the energy sector.
An agreement was also reached on investments in equipment to extract and refine oil.
The two presidents discussed energy, trade, agricultural production, infrastructure development, housing, cultural cooperation and financing, the press service said.
When meeting with Maduro on Thursday, Putin said Venezuela was a close friend and partner of Russia.
Maduro assured that Venezuela would be always with Russia.
Last week, the Venezuelan president visited OPEC member states and China and had talks with their leaders with the aim to continue efforts to restore world oil prices.
On the way to China on January 5, the Venezuelan president’s plane landed at Moscow’s Vnukovo airport where he met with Russian Deputy Foreign Minister Sergey Ryabkov.
Russia and Venezuela are developing cooperation in various sectors, including military technical, energy, industrial cooperation and housing construction.
Venezuela produces three 3 million barrels of oil a day and exports 2.5 million, mainly to the United States and China. It is the world’s fifth oil exporter. The country's oil reserves are estimated at almost 300 billion barrels. Most of the reserves are in the Orinoco Belt.