World
  |
|
PDVSA to ship 300.000 bpd of heavy crude to china by the end of 2007
Petroleumworld
CARACAS
Petroleumworld.com 03 30 07
Venezuela;s national oil company PDVSA is currently shipping 200,000 barrels a day of extra heavy oil to China, said Ju Yijie, China's ambassador to Venezuela."Oil sales are roughly 200,000 barrels a day, and this will go up," said Ju at an official event Thursday.
PDVSA has said that plans to send oil shipments to China up to 300,000 barrels a day by end 2007.
Venezuelan President Hugo Chavez has made bilateral trad agreements with China to compensate the decline of shipments to the U.S. as Venezuela's wants to decrese the dependence of the U.S. as a prime partner. Venezuela ships around 1.5 million barrels a day to the U.S.
PDVSA plans to be sending over a million barrels per day of heavy crude oil from the Orinoco belt basin to China by 2012.
China;s oil company CNPC and PDVSA afre to develop jointly up to four blocks in the Orinoco river basin. The oil would be refined at a hree new plants in China that will be develop jointly with PDVSA.
The two countries have set up a jointly $6 billion fund for industrial investment projects in Venezuela. China will put up $4 billion, while Venezuela the remaining $2 billion.
Petroleumworld 29 03 07
Copyright© 2007 Petroleumworld. All Rights Reserved.
Your
feedback is important to us!
We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com
Any
question or suggestions, please write to:
editor@petroleumworld.com
Best
Viewed with IE
5.01+
Windows
NT 4.0, '95, '98 and ME +/ 800x600 pixels