Venezuela, Russia boosting partnership in economy - Venezuela’s speaker

MEXICO CITY, May 28. /TASS/. Venezuela and Russia have been consistently promoted cooperation in the economy, Speaker of the Venezuelan National Assembly (parliament) Diosdado Cabello said at a meeting with President of the Russian major oil company Rosneft Igor Sechin on Wednesday, the country’s Agencia Venezolana de Noticias news agency said. "The alliance has allowed the government to convert the investments for the welfare of the Venezuelans and to hold the price of hydrocarbons at the international level," Cabello said. "The fellowship [between the two countries’ peoples] appeared thanks to Comandante Hugo Chavez who, due to the scope of his political vision, was assisting and improving this economic and social alliance not only in the name of Venezuela but in the name of South America." Meanwhile, Sechin noted that certain economy sectors were crucial for the country’s complex development. "A sensible growth of the energy sector allows the countries like Venezuela to gain large revenues as the oil sector contributes to education, technology and housing construction," the Venezuelan news agency quoted him as saying. President Nicolas Maduro is expected to receive Sechin on Thursday. On Wednesday Russian and Venezuelan Foreign Ministers Sergey Lavrov and Delcy Rodriguez had talks in Moscow. Rosneft and the Venezuelan state-owned Petróleos de Venezuela S.A (PDVSA) are engaged in five joint projects on oil production in the republic whose total geological supplies are estimated at over 20.5 billion tonnes. Read more