Venezuelan officials visiting China in advance of the new Venezuelan president, Nicholas Maduro, have secured several investments in the development of Venezuela’s natural resources. Venezuelan Oil Minister Rafael Remírez tweeted on Sept. 17 that Sinopec has agreed to assist in the development of an oil field requiring a $14 billion investment to reach a daily production rate of 200,000 barrels. This reinforces Venezuela’s relationship with China, who has already invested around 40 billion in development in exchange for access to oil and natural resources. Additional loans include $390 million from the Export-Import bank of China to a Venezuelan state Petrochemicals company for the building of a new port. (MercoPress, Wall Street Journal, September 18, 2013)
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SR: The Week’s China Reads
Every week, China Program’s Senior Advisor Dr. Robert A. Kapp compiles a reading list and provides commentary, for you to better understand China.
Robert A. Kapp is senior advisor to the China Program at the Carter Center. He has been principal of Robert A. Kapp and Associates, a business consulting firm, since 2004. From 1994 through 2004 he served as President of the United States-China Business Council…