Venezuela and China's increasingly close cooperation in the oil field. Reporter yesterday that China has signed an investment agreement with Venezuela, China will in the next three years to invest in oil projects in Venezuela, a 16 billion U.S. dollars, the project's oil output would be raised to per day 0.9 million barrels.
Venezuelan President Hugo Chavez in a televised speech, disclosed that China has agreed to the next three years to an oil project in eastern Venezuela, invest 16 billion U.S. dollars. Chavez did not disclose details, saying only that the contract is Venezuela's state oil company and a Chinese state-owned oil company, signed Tuesday.
Because it is heavy oil project, so this investment in China involved in Venezuela's oil locked in oil, between Sinopec. CNPC overseas department stakeholders yesterday told reporters that there had been no receipt in the oil and Venezuela signed message. The office who Sinopec noncommittal on this news.
China and Venezuela in the oil sector this year has started in-depth cooperation. In February this year, China and Venezuela signed four billion U.S. dollars loan-for-oil deal. This year in August, Venezuela, committed to the next three years, almost all fuel oil output will be exported to China, will pay 8 billion U.S. dollars advance payment.
Sep. 19, 2009
OPEC increase world oil demand forecast this year and next
VIENNA, September 15, due to the global economy is expected to resume growth, Organization of Petroleum Exporting Countries (OPEC) has raised its global oil demand this year and next year's forecast. Is responsible for 40% of the world's supply of OPEC oil next year its forecast for global oil demand increased by 150,000 barrels a day, and this year its forecast for global oil demand increased by 140,000 barrels, respectively, reached 84.56 million barrels and 84.05 million barrels.
OPEC Secretariat, in its monthly report today, said that around 70 U.S. dollars a barrel oil prices "is likely to continue." The International Energy Agency (IEA) has three times this year raised its forecast for global oil demand next year. According to OPEC Secretariat, the OPEC's output quota by 11 member countries (excluding Iraq) in August of the oil production increased to 26.334 million barrels, OPEC cut production targets to complete the proportion has now dropped to 65%.
Sep. 16, 2009
OPEC Secretariat, in its monthly report today, said that around 70 U.S. dollars a barrel oil prices "is likely to continue." The International Energy Agency (IEA) has three times this year raised its forecast for global oil demand next year. According to OPEC Secretariat, the OPEC's output quota by 11 member countries (excluding Iraq) in August of the oil production increased to 26.334 million barrels, OPEC cut production targets to complete the proportion has now dropped to 65%.
Sep. 16, 2009
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