Very usefull links


News links




Dow Jones

Oil price



Views and News





China, Venezuela held-related cooperation talks - NDRC statement



By Reuters

Petroleumworld 07 06 2018

* A senior official of China's National Development and Reform Commission (NDRC) and Venezuela's finance minister held discussions in Beijing on Wednesday about oil-related cooperation between the two countries.

* NDRC Vice-Chairman Ning Jizhe and Simon Zerpa “exchanged opinions” over China's loans to Venezuela and cooperation in the oil sector between the two nations, the NDRC statement said on Thursday, without giving further details

* Earlier in the week, Venezuela said it will receive $250 million from the China Development Bank to boost oil production. The South American country previously accepted a $5 billion loan from China, which became Venezuela's principal financier over the last decade, but has recently cooled on Venezuela amid its economic meltdown and sharply declining oil production.

* Over a decade, China plowed more than $50 billion into Venezuela's coffers through oil-for-loan agreements that helped Beijing secure energy supplies for its fast-growing economy, while bolstering an anti-Washington ally in Latin America.

* Oil production in OPEC member Venezuela has plunged to a nearly 30-year trough, pulled down by under-investment, theft, a brain drain, and lack of equipment, helping push up global oil prices and piling misery on the recession-hit economy.


Twitter: @petroleumworld1

Hit your target - Advertise with Us

Reporting by Chen Aizhu, Editing by Sherry Jacob-Phillips from Reuters. 07 05 2018

We invite all our readers to share with us
their views and comments about this article.
Write to

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to:

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1

November 13 - 15, 2018.

Gubkin University, Moscow
SPE Student Chapter









Editor & Publisher:Elio Ohep/
Contact Email:

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.