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BREAKING NEWS

Putin, Chavez sign $20 billion oil deal

By JPOST.COM STAFF

APRIL 3, 2010 06:29

Russian Prime Minister Vladimir Putin made a short visit to Venezuela, and agreed Friday with host President Hugo Chavez on a joint oil production project worth $20 billion, Israel Radio reported.

The deal provides assistance by Russian oil corporations to the Venezuelan state-owned petroleum company in improving yield rates up to 450,000 barrels per day.

According to the report, President Chavez announced that Russia is willing to assist his country in the development of nuclear power plants.

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