Free Republic

CARACAS, September 17 (RIA Novosti) - Five of the largest Russian oil companies want to set up a consortium to boost operations in Latin American countries, a deputy prime minister said Wednesday. Rosneft, LUKoil, Gazprom Neft, Surgutneftegaz and TNK-BP came up with the proposal. Igor Sechin, who chairs the board of state-controlled Rosneft, Russia's largest oil company, said: "It would be strange for Russia, which shares first place in global oil production with the Saudis, not to interact, say, with Venezuela, which holds fifth or sixth place."