Duterte meets with Russian oil giant for possible investment in Philippines

MANILA, Philippines — President Rodrigo Duterte met with Russian oil giant Rosneft Oil Co. in Moscow Wednesday night.

Presidential spokesperson Salvador Panelo confirmed that Duterte met with Rosneft CEO Igor Sechin and other officials of the Russian company.

Duterte invited Rosneft to invest in the Philippines on oil and gas development. 

The president also assured the Russian oil provider's officials that their investment would be safe in the Philippines as he does not tolerate corruption.

"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.

Also present in the meeting were Foreign Affairs Secretary Teodoro Locsin Jr., Executive Secretary Salvador Medialdea, Finance Secretary Carlos Dominguez II, Defense Secretary Delfin Lorenzana, Energy Secretary Alfonso Cusi, National Security Adviser Hermogenes Esperon Jr., Sen. Bong Go and Philippine Ambassador to Russia Carlos Sorreta.

Roseft Vice President for Offshore Projects Zeljko Runje, Vice President for Refining, Petrochemical, Commerce and Logistics Didier Casimiro and Chief Executive Officer of Inter RAO Boris Kovalchuk were also in the meeting.

Duterte arrived in Moscow last Wednesday for a five-day official visit, his second visit to Russia since May 2017.

Russian Prime Minister Dmitri Medvedev welcomed Duterte to the Russian government, which the former called a "bigger and better" White House.

Duterte highlighted the progress in the relations between the Philippines and Russia since his first visit to Russia two years ago. — Patricia Lourdes Viray

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