Source: El Universal
Within the framework of Venezuelan President Nicolás Maduro's
first visit to China, on Sunday, China pledged to invest some USD 20
billion in social and oil projects in Venezuela.
Maduro and his Chinese counterpart Xi Jinping expressed their interest in consolidating China-Venezuela strategic alliance and signed a dozen cooperation and investment agreements, including a new line of credit amounting to USD 5 billion and an agreement to produce additional 200,000 oil barrels per day in the Orinoco Oil Belt.
Venezuela also agreed on the setting up of a joint venture with Chinese state-owned company Sinopec for the exploitation of Junín 10 bloc in the belt. USD 14 billion is expected to be invested in the project aimed at producing 200,000 barrels per day, said Maduro via Twitter.
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Maduro and his Chinese counterpart Xi Jinping expressed their interest in consolidating China-Venezuela strategic alliance and signed a dozen cooperation and investment agreements, including a new line of credit amounting to USD 5 billion and an agreement to produce additional 200,000 oil barrels per day in the Orinoco Oil Belt.
Venezuela also agreed on the setting up of a joint venture with Chinese state-owned company Sinopec for the exploitation of Junín 10 bloc in the belt. USD 14 billion is expected to be invested in the project aimed at producing 200,000 barrels per day, said Maduro via Twitter.
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