RealNews

China, Venezuela to cement ties with oil deals

Venezuela said on Saturday it was working on a raft of oil deals with China, giving impetus to President Hugo Chavez’s attempts to break his country’s dependence on oil exports to the United States. The China National Petroleum Corp. will look to develop heavy crude oil production in the Orinoco Belt and cooperate with Venezuela in building three refineries in China and a “super-fleet” of crude tankers, the Information Ministry said. Full Story

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