Venezuela, China to Strengthen Oil Alliance Agreements

Caracas, Dec 18 (Prensa Latina) Venezuela ratifies Tuesday its alliances with China in the hydrocarbons sector with the reinforcement of joint ventures between Petrolera Sinovensa and China National Petroleum Corporation (CNPC).

The operational success in this relation is progressing for mutual benefit in the business, confirmed the two sides’ authorities during a meeting held Monday at Sinovesa’s headquarters in Barcelona, Anzoategui state.

CNPC President Jia Yong assured that as a result of this joint cooperation, the alliance reached 130 million barrels per day and aspires to surpass 165.

‘We have dedicated people, trained personnel and with a sense of belonging, who continue working hard to achieve the proposed goals’, he said.

Alberto Bockh, CEO of Petrolera Sinovensa, thanked the workers and assured the main goal, besides strengthening the strategic partnership between both nations, is to obtain and surpass the production target in accordance with the economic recovery program fostered by the Executive Branch.

The China and Venezuela relationship strengthens hydrocarbon production in the world’s largest crude oil reserve, the Orinoco Hugo Chavez Oil Belt.

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