Venezuela exporting fuel oil to China

[Say_What]

The first of the many deals Chavez made around the globe a while back.

<clips>

Venezuela has begun exporting fuel oil to China under a trade agreement between the oil-rich South American nation and Asia's energy-hungry economic powerhouse.

Venezuela's state-run oil company Petroleos de Venezuela S.A. sent an initial shipment of 1.8 million barrels of fuel oil to China last week, according to information posted on the company's Web site Monday.

During a trip to Beijing in December, President Hugo Chavez signed a series of trade and cooperation agreements with his Chine counterpart, Hu Jintao, for the joint development of Venezuelan oil fields.

China has pledged a credit line of US$40 million (euro33 million) for Venezuelan agriculture, and help for the Chavez administration's plans to launch a satellite. Chinese firms are also to build railroads in Venezuela.

http://www.businessweek.com/ap/financialnews/D8ARF4JO1.htm?campaign_id=apn_home_down

[acmavm]

1. I read the other day where an asassination attempt on Chavez had

been thwarted.

Well he'd better beef up the body guards and start wearing bullet-proof underwear 'cuz I don't think that'll be the last one.

[justinsb]

2. Good for Chavez

The China deals, which seem fair (although I haven't read any fine print) should at the very least keep Bush & Co. at bay - Iraq, Iran and Syria are one thing, but I don't think even the quasi suicidal Bush administration has any desire to take on China.

[Judi Lynn]

3. Chavez has as many friends as Bush has people who could vomit at the sight

of him and his group of fellow failed humans.

Yet the one who kills, maims, and lies his @$$ off is also the one who wants to murder the one who is bringing desperately needed help to the poor of his country. Whatta world.

I pray there's a power somewhere which will protect Chavez from the assassin scum who will be sent to murder this real world leader and helper.

http://www.chinaembassy.ie.nyud.net:8090/eng/NewsPress/W020041228565816417268.jpg

President Hugo Chavez, President Hu Jintao.

[Village Idiot]

4. Canada is looking at stepping up its oil exports to China, as well...

Currently, 2/3 of Canada's two million barrels per day goes to the USA...

"Beijing's growing interest in Alberta's tar sands provides Ottawa with an opportunity to strengthen its political and economic relationship with Asia's rising superpower. Prime Minister Paul Martin last month undertook a multi-country tour of Asia, during which he visited China, India, Japan and Hong Kong. During talks with Chinese President Hu Jintao and Premier Wen Jiabao, Martin discussed a broad range of issues, including U.N. reform, public health and global environmental challenges. By positioning Canada as a reliable partner ready to supply China with its oil needs, Ottawa is able to build a platform for broader policy dialogue."

http://www.forbes.com/energy/2005/02/17/cz_0217oxan_canadaoil.html

Remember, US imports the most oil from Saudi Arabia, Canada, then Venezuela...perhaps not for too much longer?

[MadisonProgressive]

6. I guess Peak Oil is just a conspiracy theory of the left!

[geek tragedy]

5. I'm surprised this wasn't already happening. nt

[Say_What]

7. Deal was agreed to last December. I s'pose it takes a while

to put things in place.

http://news.bbc.co.uk/1/hi/business/4123465.stm

[Judi Lynn]

8. President Hugo Chavez Frias proposes creation of South American energy rin

Published: Monday, June 20, 2005
Bylined to: Vanessa Carolina del Valle Marcano


President Hugo Chavez Frias proposes creation of South American energy ring

After arriving in Asuncion, Paraguay, to attend the XXVIII Southern Cone Economic Zone (Mercosur) Presidential Summit, Venezuelan President Hugo Chavez offered a quick press conference, where he announced the proposal of creating a South American energy ring.

“The energy ring is very important, because it is about starting to take actions to meet energy demands from the Southern Cone countries in the short to medium term,” Chavez said, highlighting the efforts being made to establish Petrosur, a proposal for the integration of South American oil exporting countries based on the agreements signed with Argentina, Brazil and Uruguay.

The Venezuelan Head of State also mentioned that the Venezuelan government had established the Caracas energy agreement with Paraguay, through which Venezuela will send 8,600 barrels of oil products daily to Paraguay. The agreement will allow Paraguay to enjoy a 25% savings on oil, close to $85 million per year.

In addition, President Chavez said that Paraguay would have two years grace period to pay for the oil, at 2% interest rate. The agreement allows for the Paraguayan government to pay the debt in goods and services, as well as hard currency
(snip/...)

http://www.vheadline.com/readnews.asp?id=38288

[SoCalDem]

9. China is also negotiating with Bolivia

for their natural resources (which WE have previously identified as OURS)...

It looks like the Latin American countries are being rather bold these days :)

[Say_What]

10. While Tio Sam was overwhelmed with 'regime change' in the ME,

China was quietly moving all through LatAm and the Carribean securing energy deals. Here's a clip from last January.

<clips>

..."Objectively speaking, China needs Latin America, and Latin America also needs China," he said.

As Latin America struggles to secure trade pacts with the United States and Europe, the region's exports to China have surged -- 72 percent in 2003 to $10.87 billion from 2002.

Zeng's trip is the latest in a spate of high-level diplomacy between China and Latin American countries.

Over Christmas Venezuelan leader Hugo Chavez visited China and in November President and Communist Party chief Hu Jintao traveled to Brazil, Chile, Argentina and Cuba.

http://www.energybulletin.net/4118.html

[Salluc]

11. Atlantic Monthly

Did anyone read the great, great article in this month's Atlantic Monthly, "Countdown to a Meltdown" which is written as a policy assessment to a presidential candidate in 2016?
The author talks about Venezuela -- in his scenario, in 2009. we try to assassinate the Venezuelan president, who retaliates by shutting down its oil refineries for two months (shutting off 1/8 of US gasoline) and then reopening the plants avowing to send no products to US ports.
All to China.