BELARUS NEWS AND ANALYSIS

DATE:

09/12/2007

Venezuela, Belarus clinch oil deal

Venezuela and Belarus agree on oil and military cooperation

Venezuelan President Hugo Chavez has pledged his country's commitment to aiding Belarus in its oil production plans in Venezuela.

The pledge which was made during his meeting with the Belarusian counterpart Alexander Lukashenko cedes to the state oil company of Belarus Neft increased opportunities to drill for oil on Venezuelan soil while enjoying the cooperation of state-owned Petroleos de Venezuela SA.

The joint effort would be conducive to reaching a yield of 50,000 barrels of oil a day in the space of a few years.

The goodwill gesture was made in exchange for Belarus' vowing to help refurbish the Venezuelan military. This could include purchase of an air defense system from Belarus equipped with radar and anti-aircraft missiles--military hardware that Chavez has paid keen attention to in the past.

Regarding the two heads of state sharing a US-unfriendly attitude, Chavez said they both have been victimized by being branded as "dictators'' by Washington.

The two sides also explored the possibility of diversifying bilateral trade.

Source:

http://www.presstv.ir/detail.aspx?id=34228§ionid=351020704