China and Venezuela increase ‘strategic fund’ for development
Venezuelan President Hugo Chavez and Chinese Vice-President Xi Jinping have entered into an agreement to increase an existing bilateral strategic fund for oil development to $12 billion.
Chavez said:
Some 30 international oil companies are quantifying the reserves of heavy oil in Venezuela’s Orinoco belt, and that some 174 million bbl of crude already had been verified by the end of 2008.
For full story, click here
Comment |
|
Tweet |
|
All content Copright 2011 Dig Media Inc. Disclaimer
Email
Print
Reproduction Request
Sun, Feb 22, 2009
Post by Melissa Pistilli, Heavy Oil Senior Reporter