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December, 8, 2016

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Russia to continue oil, natural gas ties in Venezuela: Rosneft

CARACAS -- The chief executive of Russian energy company Rosneft said Tuesday that Russia will keep deepening cooperation with Venezuela's government in oil, natural gas and electrical projects.

Russian and Venezuelan officials signed five documents laying out plans for offshore natural gas and oil projects, the creation of a new joint company, and the purchase of Russian-made oil drills.

Rosneft chief executive Igor Sechin said the company plans to invest about US$10 billion in Venezuela in the coming years.

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