China’s near-term heavy oil strategies pointed at Venezuela

PetroChina vice president Song Yi-wu indicated that China’s near-term heavy oil strategies are pointed directly at Venezuela, where a “warm-hearted” President Hugo Chavez has taken steps to nationalize oil operations.

Song said:

China is building energy security for its people in “politically friendly” countries, which include Venezuela, Saudi Arabia, Russia and a host of Asian and African nations – Burma, for example, and Sudan.

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