Duterte asks Russia's top oil producer to invest in PH

Arianne Merez, ABS-CBN News

Posted at Oct 03 2019 03:56 PM

President Rodrigo Duterte arrives at a hotel in Moscow, Russia following a bilateral meeting with Russian Prime Minister Dmitry Medvedev on Oct. 2, 2019. Presidential Photo

MANILA - President Rodrigo Duterte has asked Russia's top oil producer to invest in the Philippines, Malacañang said Thursday.

Duterte made the pitch on Wednesday during his meeting with Rosneft Oil chief executive officer Igor Sechin in Moscow.

"The President invited Rosneft, the leader in the Russian oil sector, to invest in the Philippines, particularly with regard to oil and gas development," Presidential Spokesperson Salvador Panelo said.

Panelo added that Duterte assured officials of the Russian firm that their investments are safe in the Philippines.

"We wish to add that the Chief Executive underscored that any agreement that will be executed or performed for such purpose shall undergo the proper domestic processes and comply with applicable laws and pertinent rules and regulations so as not to leave any room for corruption or irregularity," Panelo said.

Duterte was joined by Foreign Affairs Secretary Teodoro Locsin Jr., Executive Secretary Salvador Medialdea, Finance Secretary Carlos Dominguez III, Defense Secretary Delfin Lorenzana, Energy Secretary Alfonso Cusi, National Security Adviser Hermogenes Esperon Jr., Sen. Christopher “Bong” Go, and Philippine Ambassador to the Russian Federation Carlos Sorreta during the meeting.

The Philippine president is in Russia for a bilateral meeting with President Vladimir Putin after his first trip to the country was cut short in May 2017 due to a terror attack in the southern Philippines that forced him to come home earlier than scheduled.