The Venezuelan parliament has approved a 15-year extension of joint ventures between state company PDVSA and Russian oil firm Roszarubezhneft, according to a statement on the National Assembly’s website.
The deepening energy cooperation comes despite sweeping US sanctions on both nations and amid accusations that Washington wants to depose President Nicolas Maduro under the guise of an anti-drug campaign.
The extension, announced on Thursday, allows the joint ventures operating oilfields in western Venezuela to continue until 2041, with lawmakers estimating roughly 91 million barrels of crude over the period and investment of about $616…
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