World
Institutional
links
Welcome back on
26 -29 August,
ONS 2008
Bridging
the energy gap
is ONS 2006 theme,
from 22-25 August,
in Stavanger, Norway
Petroleumworld
Business
Partners:
Centre for
Global Energy
Studies
  |
China to sign new oil deal with Venezuela
HOUSTON
Petroleumworld.com, May 9, 2008
China is said to be on the brink of signing a new petroleum deal with Venezuela UPI reported Wednesday.Chinese Vice Premier Hui Liangyu told reporters "We want to cooperate with foreign firms in both upstream and downstream business to take advantage of our respective strength and secure steady oil supplies."
However, part of the new oil deal include producer, PetroChina Co., and Venezuela's PDVSA who will work together to build a 400,000 barrels per day refinery in the southern Chinese province of Guangdong.
The refinery will keep usisng special Orimulsion fuel, derived from bitumen deposits, of the Orinoco tar belt.
The latest deal follows an $11bn deal struck between the two nations ion 2006.
Story from Petroleumworld
Petroleumworld 09 05 08Copyright© 2008 respective author or news agency. All rights reserved.
We welcome the use of Petroleumworld™ stories by anyone provided it mentions Petroleumworld.com as the source. Other stories you have to get authorization by its authors.
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