Venezuela aims to export 1 million barrels of oil per day to China

08/5/2010 | Bloomberg

Venezuela plans to increase oil shipment to China to 1 million barrels a day by 2012, in order to boost investment in the domestic economy, including projects to diversify exports, said Oil Minister Rafael Ramirez. Venezuela, South America's largest oil producer, is already exporting 200,000 barrels a day to China, paying off a $20 billion loan to invest in technology, agriculture and power generation.

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