Jul
03

Venezuela Says China Investing $250 Million to Boost Oil Output

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  • China, Venezuela in talks for $5 bln more in oil investment
  •  Additional financing projects may be finalized in near term

Venezuela’s distressed oil sector may get some much needed financing from China, Finance Minister Simon Zerpa said after meetings with officials from China Development Bank and China National Petroleum Corporation.

China Development Bank will invest more than $250 million to boost Venezuela oil production in the Orinoco Belt, Zerpa, who is currently in Beijing for bilateral talks, said in a ministry statement…

Venezuela Says China Investing $250 Million to Boost Oil Output

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