Home » Archives » December 2004 » Venezuela signals clear warning to the US government to back off on interference; offers the Chinese almost unlimited access to massive oil and gas reserves
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12/27/2004:
"Venezuela signals clear warning to the US government to back off on interference; offers the Chinese almost unlimited access to massive oil and gas reserves"
Signaling a clear warning to the US government to discontinue its several years interference in Venezuela's domestic political affairs, Venezuelan President Hugo Chavez Frias has turned to the Chinese government offering almost unlimited access to Venezuela's massive oil and gas reserves.The offer forma a major part of a new trade deal between the Venezuela and China which will allow China preferential terms and conditions to operate oil fields in Venezuela and invest in new Venezuelan refineries.
Venezuela will supply 120,000 barrels of oil a month to China, in a deal which may well see a reduction in 60% exports to the United States while remaining the world's 5th largest oil exporter.
