MOSCOW, Russia – President Duterte last Wednesday invited Rosneft Oil Co. to invest in the Philippines and assured them that their investments are safe as corruption is not tolerated by his government.
Presidential spokesman Salvador Panelo made the statement following Rosneft Oil Co. Chief Executive Officer Igor Sechin’s courtesy call on Duterte here.
Panelo said that during the closed-door meeting, Duterte stressed that any agreement resulting from the meeting will follow Philippine laws.
“The President invited Rosneft, the leader in the Russian oil sector, to invest in the Philippines, particularly with regards to oil and gas development, and assured its officials that their investments are safe in the Philippines and that he would not tolerate corruption in the bureaucracy,” he said yesterday.
“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,” he added.
Also present during the meeting were 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. Bong Go, Philippine Ambassador to Russia Carlos Sorreta; Zeljko Runje, Vice President for Offshore Projects of Rosneft; Didier Casimiro, Vice President for Refining, Petrochemical, Commerce, and Logistics of Rosneft; and Boris Kovalchuk, Chief Executive Officer of Inter RAO. (Argyll Geducos)
