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2016-08-17 18:35:00

CHINA & VENEZUELA COOPERATION

CHINA & VENEZUELA COOPERATION

HP wrote, People's Minister of Petroleum and President of Petroleos de Venezuela SA (PDVSA), Eulogio Del Pino, spoke about the future of Venezuela's oil and gas industry on a recent visit to a desalination plant, which is part of the Chinese-Venezuelan JV Sinovensa. Del Pino said he sees more cooperation with China as a means to grow the oil and gas industries in both countries.

Speaking of the reserves in the Orinoco oil belt, Del Pino said, "In this underground lies the energy that China needs for the future. Currently, we are sending 600 Mbpd of crude to China, and we expect to increase this trade to more than 1 MMbpd within the next years."

Part of his vision for more cooperation is already underway in the form of a new refinery in China to process the crude PDVSA is sending to China. According to Del Pino, the project is in the advanced engineering phase.

In addition to the new refinery, Del Pino is planning a new terminal to handle the increased exports of crude.

"We expect to build a large-scale oil terminal in Araya, Sucre state, where the crude oil will be loaded in order to be shipped to China."

Del Pino said that, in the past, it was considered a loss of profit to transport crude to China. However, the expansion of the Panama Canal will cut the cost of shipping and make the transportation of crude to Asia a reality.

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Earlier:

CHINA: 

CHINA'S FUEL EXPORTS UP 52.3% 

AZERBAIJAN & CHINA OPPORTUNITIES 

SOUTHEAST ENERGY WAR 

SAUDI FIND CHINA 

CHINESE - NIGERIAN AGREEMENTS: $80 BLN 

RUSSIAN-CHINESE PROJECT

 

VENEZUELA: 

ROSNEFT & PDVSA STRATEGIC PARTNERSHIP 

VENEZUELA NEED MONEY 

VENEZUELA'S OIL DOWN 

VENEZUELA - CHINA TALKS 

VENEZUELAN OIL DOWN 

BRAZIL & VENEZUELA IN SHOCK

 

 

 

Tags: CHINA, VENEZUELA, OIL, GAS

Chronicle:

CHINA & VENEZUELA COOPERATION
2018, February, 16, 23:15:00

DEWA INVESTS $22 BLN

AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.

CHINA & VENEZUELA COOPERATION
2018, February, 16, 23:10:00

TRANSCANADA NET INCOME $3.0 BLN

TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.

CHINA & VENEZUELA COOPERATION
2018, February, 16, 23:05:00

RUSSIAN NUCLEAR FOR CONGO

ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.

CHINA & VENEZUELA COOPERATION
2018, February, 16, 23:00:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

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