08/25/2006, 00.00
Send to a friend

Chavez in Beijing seeking greater oil sales to China to replace US

On an official to the Asian economic powerhouse, the Venezuelan president promises 500,000 barrels of oil a day within five years. Economic agreements are signed with mining companies.

Beijing (AsiaNews/Agencies) – Chinese President yesterday signed a series of trade agreements with his Venezuelan counterpart, Hugo Chavez, to jointly develop Venezuela's vast oil resources as the counter deepen their economic and political ties.

Mr Hu gave Mr Chavez a warm welcome, whilst the Venezuelan leader proposed to increase oil sales to China to 500,000 barrels per day over the next five years.

The Asian giant is desperately looking for all kinds of energy suppliers to fuel its rapidly expanding economy.

"I believe that, through your visit, the two countries' co-operation in all aspects can be promoted," Mr Hu told Mr Chavez in the Great Hall of the People.

Mr Chavez said he had "a series of important and close consultations with important Chinese entrepreneurs", but did not give details.

Agreements signed by the two leaders include one for their main government-owned oil companies—China National Petroleum Corp and Petroleos de Venezuela S.A.—to jointly develop the Junin area of Venezuela's Orinoco oil belt.

Mr Chavez is also scheduled to meet Premier Wen Jiabao and National People's Congress chairman Wu Bangguo.

He will also meet executives to discuss developing his country's coal and gold deposits.

The leftist Mr Chavez has strengthened ties with Beijing since taking office in 1999, part of a strategy to sell more to other countries and replace the United States as Venezuela's biggest oil customer.

Send to a friend
Printable version
See also
World leaders on the death of Hugo Chavez
Pope talks about the Middle East, the Holy Land and the food crisis with Bush
White House to stop Beijing's "imperialist" policy in the South China Sea
24/01/2017 15:55
Hu in Saudi Arabia and Africa to talk oil
President Chavez receives loans from Asia, and pays them back in oil


Subscribe to Asia News updates or change your preferences

Subscribe now
“L’Asia: ecco il nostro comune compito per il terzo millennio!” - Giovanni Paolo II, da “Alzatevi, andiamo”