MOSCOW, July 17. /TASS/. Russian companies are interested in supplying petrochemical products to Venezuela, including catalysts and additives, and they are also considering the possibility of organizing their production in the country, according to a statement released by the press service of the cabinet of ministers following a meeting held by Deputy Prime Minister Alexander Novak and Venezuela’s Oil Minister Pedro Rafael Tellechea.

"The sides discussed cooperation in the energy sector, including cooperation at multi-sided platforms, particularly within OPEC+ and GECF and the development of production projects in Venezuela with the participation of Russian companies. The interest of Russian companies was noted in establishing cooperation with Venezuelan firms in such areas as oil production and refining, improving energy efficiency, modernization of power supply network, as well as supply of petrochemical products, including catalysts and additives, with the possibility of organizing production on Venezuelan territory," the statement reads.

The next meeting of the Russian-Venezuelan intergovernmental commission will be held in Russia in October 2023.

Novak added that Russia and Venezuela beat the target of joint activities on hydrocarbon production in 2022 by 18%.

Trade turnover between the two countries gained 47% In January-May 2023 year-on-year.