Turkiye, Venezuela Explore Potential Oil and Gas Collaborative Ventures

This in turn will boost commercial exchange and encourage direct investments.

SEATTLE (Oil Monster): Alparslan Bayraktar, the minister of energy and natural resources for Turkey, met with Delcy Rodriguez, the vice president and minister of oil for Venezuela, to discuss possible collaborative ventures for the development of natural gas and oil resources. The meeting took place in Turkiye's capital, Ankara.

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The Minister emphasized the significance of robust collaboration in the energy domain for the continuous two-way partnership between the two nations. It is important to remember that the two nations signed a Memorandum of Understanding (MoU) in January of last year, which is anticipated to strengthen their current alliance. As per the Memorandum of Understanding, the two nations have decided to deepen their collaboration in natural gas and oil exploration, production, and trading.

The recent meeting to discuss strategic cooperation is significant because it attempts to further the two nations' already solid relationship, which they both maintain is based on solid groundwork. Consequently, this will stimulate direct investment and increase commercial exchange.

Earlier this year, Turkiye and Venezuela pledged to deepen cooperation in energy and mining sectors.