CARACAS, Sept 16 (Reuters) - President Hugo Chávez said on Wednesday Venezuela signed a $16bn investment deal with China over three years to raise oil output by several hundred thousand barrels per day in the Organisation of Petroleum Exporting Countries member’s Orinoco belt. Mr Chávez gave few details of the deal he said was signed on Tuesday. But he appeared to be talking about a new investment, separate from a similar amount China has promised Venezuela in return for future shipments of fuel oil.
Venezuela unveils $16bn China oil deal
Thursday, 17 September 2009
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