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
