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(27 Nov 2004) 1. Wide shot of meeting 2. Russian president Vladimir Putin 3. Venezuelan President Hugo Chavez 3. Meeting with Putin and Chavez and other officials 4. Russian Flags 5. Putin and Chavez sitting down in front of journalists 6. Cutaway of media 7. Chavez signing agreement 8. Putin signing agreement 9. Putin and Chavez shaking hands 10. Cutaway of reporter 11. SOUNDBITE: (Russian) Vladimir Putin, Russian President: "We see worthwhile perspectives in the oil and gas sector where both Russia and Venezuela have good resources, ample experience and are leading exporters in the world." 12. Reporter taking notes 13. SOUNDBITE: (Russian) Vladimir Putin, Russian President: "We are going to develop relations in the military and technological sphere." 14. Wide shot of news conference with Putin and Chavez 15. Cutaway of reporters 16. SOUNDBITE: (Spanish) Hugo Chavez, Venezuelan President: "Venezuela is modernising and strengthening its armed forces for its self defence in the face of any aggression. We are talking about the delivery of about 100,000 Russian automatic rifles which includes technology transfer." 17. Zoom out of Putin and Chavez 18. Chavez and Putin shaking hands and leaving room STORYLINE: Venezuelan President Hugo Chavez and Russian President Vladimir Putin discussed in Moscow on Friday energy cooperation between their countries, two of the world's largest oil suppliers, and military trade. In a joint statement Putin and Chavez pledged to "continue efforts to maintain stability on the world oil market." On Thursday, Chavez said that OPEC (Organisation of Petroleum Exporting Countries) should keep oil production unchanged and warned against letting oil prices drop sharply. He said the minimum price per barrel should be 30 US dollars instead of the current 22-28 US dollar price range. Putin said on Friday that Russia and Venezuela need to further boost their economic cooperation after the bilateral trade had grown more than twofold last year. After official talks, Russia's Lukoil company signed a memorandum of understanding with the Venezuelan state oil company PDVSA, which envisions setting up a joint venture on exploring and refining oil. Lukoil has said it plans to spend up to one (b) billion US dollars developing oil fields in Venezuela. The company is contemplating investments in heavy crude refining projects, exploration and the upgrade of less productive oil fields. Putin also said the two countries will cooperate in the military and technical sphere as well as in building energy facilities in Venezuela. Venezuelan officials said in October they want to buy 40 military helicopters from Russia to patrol its volatile border with Colombia. Chavez said he is interested in purchasing 100,000 automatic assault rifles as well anti-missile and anti-tank weapons from Russia. The two presidents also signed an agreement on Russia's bid to join the World Trade Organisation. Russia hopes to begin the formal process of accession into the world's biggest trading club in 2005. To do that, it first has to sign agreements with all its major trade partners who are WTO members. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: / ap_archive Facebook: / aparchives Instagram: / apnews You can license this story through AP Archive: http://www.aparchive.com/metadata/you...