Rody asks Russian oil producer: Invest in PHL

Malacanang on Thursday revealed that President Rodrigo Duterte has asked Russia’s top oil producer to invest in the Philippines during his during his meeting with Rosneft Oil chief executive officer Igor Sechin in Moscow.

In a statement, Presidential spokesman Salvador Panelo said that the President invited Rosneft, the leader in the Russian oil sector, to invest in the Philippines, particularly with regard to oil and gas development.

The Palace official added that Duterte had 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.