Venezuela and China Ink Agreements to Boost Strategic Integration
- From: periodistalibre@xxxxxxx
- Date: 31 Mar 2007 10:25:34 -0700
March 26, 2007 -
http://www2.minci.gob.ve/noticiaingles.asp?num=992
Both nations consolidate their relations by signing startegic
agreements in
the energy field. Venezuela guarantees crude supply and fuel oil, and
China
will support the construction of new railed ways and act as a
consultant to
develop technologic companies.
Venezuelan and China Governments signed on Monday legal instruments to
consolidate the integration in diverse strategic areas. The President
of the
Bolivarian Republic of Venezuela, Hugo Chávez Frías, and the leader of
the
Communist Party of China, Li Changchun attended the event.
Both nations endorsed the Cooperation Agreement for the donation of
yuan 10
million (about US $ 1,291,655) in order to finance projects between
both
nations.
The signing act was in charge of the minister of the Popular Power for
Foreign Affairs, Nicolás Maduro, and the Ambassador of the Popular
Republic
of China to Venezuela, Ju Yijie.
Petrozumano Agreement was also signed, for the constitution of the
Petrozumano Company, S.A.
Other agreement signed by the Venezuelan Energy and Oil Minister,
Rafael
Ramírez, and the President of China National Petroleum Corporation
(CNPC),
Jian Jieming, establishes the creation of PETROZUMANO, a company aimed
at
carrying out exploration activities to search, extract, and transport
and
store oil.
The agreement was endorsed by the minister of the Popular Power for
Energy
and Petroleum (Menpet-Spanish acronym) and President of the state-own
Venezuelan Oil Company (PDVSA), Rafael Ramírez, and for China, the
President
of the National Petroleum Corporation (NPC), Jiang Jieming.
The Venezuelan and Chinese governments inked the Energy Cooperation
Agreement between PDVSA and NPC. This agreement will allow to evaluate
the
constitution of a mixed company in Sinovensa field to include an
expansion
of the south block MPE-3 (at the Orinoco Oil Strip) subject to solve
the
current problems between both companies.
Through this agreement a mixed company for oil transportation and
tankers
construction will be formed in order to create its own fleet.
In addition, PDVSA and China Petroleum Technology and Development
Corporation (CPTDC) endorsed a document to create a Joint Venture
called
Industria Chinovenezolana de Taladros S. A (Venezuelan-Chinese Drill
Industry) to provide service and maintenance in oil fields.
The goal is to promote the constitution -between PDVSA and CPTDC- of
the oil
wells service and maintenance, in charge of the PDVSA executive, Luis
Vierma, and the General Manager for Europe and America Regions, Li
Shiju.
The next document deals with the Fuel Oil Supply Contract, which will
allow
product supplying to the Popular Republic of China. This document was
inked
by the Commerce and Supply Manager of PDVSA, Asdrúbal Chávez, and the
representative of China National United Oil Corporation (CNUOC), Zhao
Yong.
They also signed the Oil Supply Contract, which will allow the oil
expending
to China.
Recently, the Venezuelan President said that, 300 thousand barrels per
day
are expended to China. However, the goal for 2012 is to supply about
one
million barrels per day to this country.
Chávez mentioned, among the proposals of the CNPC, the constitution of
various mixed companies for the exploration, exploitation, refining,
and
even transport of Venezuelan oil.
The first of them would be 60% PDVSA and 40% CNPC. Its main goal will
be the
oil exploitation at the Orinoco Oil Strip.
The second project is about the construction of three refineries of
Venezuelan oil in Asian lands.
The third plan, mentioned by Chávez, consists on the constitution of a
mixed
company (50% and 50%) for shipping transport, "to cross the seven seas
of
the world with Venezuelan oil, to carry and bring to China and other
countries, negotiating it together", he said.
The Venezuelan President said that "China is committed to us and we
are
working on the undersigned projects which are going to generate
comments all
over the world, because we have proposed China to have our oil supply.
Some
people used to say that China was too far away, but we are proving the
contrary."
Bolivarian News Agency (ABN)
.
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