Russia’s Rosneft, Venezuela’s PDVSA Eye Electric Plant Construction in Venezuela – Sputnik News

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Russian oil company Rosneft and Venezuela’s state-owned Petroleos de Venezuela (PDVSA) discussed a range of cooperation options in the Venezuelan electricity industry development, including building generating capacities on petrocoke, gas, coal, as well as with the utilization of hydropower, Rosneft said Friday.

"This will replace the existing power plants running on diesel fuel, and to direct the freed oil product volumes to be placed on the market… In particular, Rosneft and PVDSA discussed the prospects of transferring Venezuelan diesel power stations to APG [associated petroleum gas] and gas," Rosneft said in a statement.

On Thursday, the Venezuelan Energy Ministry said the PDVSA and Rosneft signed a series of agreements. A source close to the talks between the two national energy giants told RIA Novosti that the companies planned to work together on Venezuela’s shale oil development, as well as oil and petroleum products trading.