theTrumpet.com
  • Gerald Flurry
  • Watch
    • Key of David TV Program
    • Trumpet Daily Program
    • Trumpet Videos
  • Listen
  • Library
    • Books and Booklets
    • Trumpet Magazine
    • Bible Correspondence Course
    • Reprint Articles
    • Trumpet Brief E-mail Newsletter
    • Renew Trumpet Subscription
  • Sections
    • Anglo-America
    • Asia
    • Europe
    • Middle East
    • Economy
    • Society
    • Living
  • Trends
  • About Us
  • Basket
  • Gerald Flurry
  • Watch
    • Key of David TV Program
    • Trumpet Daily Program
    • Trumpet Videos
  • Listen
  • Library
    • Books and Booklets
    • Trumpet Magazine
    • Bible Correspondence Course
    • Reprint Articles
    • Trumpet Brief E-mail Newsletter
    • Renew Trumpet Subscription
  • Sections
    • Anglo-America
    • Asia
    • Europe
    • Middle East
    • Economy
    • Society
    • Living
  • Trends
  • About Us
  • Basket

Venezuela’s Growing Oil Partner

From The November-December 2007 Philadelphia Trumpet
View Issue FREE Subscription

Venezuela and China are strengthening their relationship through energy trade, announcing in September a $10 billion project to develop Venezuela’s oil-rich Faja del Orinoco region. According to Energy-Daily .com, this is part of a “continuing effort by Caracas to bolster ties between the two countries” (September 12).

The announcement is seen as Venezuelan President Hugo Chavez’s latest move to turn away from the United States and toward other nations, particularly those considered unfriendly toward Washington.

Venezuela currently relies on the U.S. to buy most of its oil exports. That could change, however. Venezuela has already announced it will buy 13 oil rigs from China, and last year it concluded a $1.8 billion petroleum construction and equipment deal. Chavez also stated last year he wanted to double oil exports to China to 300,000 barrels per day.

Now, with Chinese involvement in the Orinoco project, Caracas is taking even more bold and enabling steps away from the U.S. The Venezuelan state-owned energy company said it would partner with a Chinese firm to build three refineries in China.

The Orinoco project alone will produce a maximum of 1 million barrels per day, according to Venezuelan Energy and Oil Minister Rafael Ramirez.

In his decade as president, Chavez has blasted the U.S. and President George W. Bush, tied himself closely to Cuban dictator Fidel Castro, paid a state visit to Saddam Hussein, met with Libyan dictator Muammar Qadhafi, explored selling energy to North Korea, and strengthened his country’s ties with Iran. Of all his attacks on the U.S., reducing oil deliveries could prove to be the most dangerous.

From The November-December 2007 Philadelphia Trumpet
View Issue FREE Subscription
Next
  • Teens: Joy Comes From Family
Previous
  • Getting Tough With Russia

theTrumpet.com
About Us
Contact Us
Frequently Asked Questions
Privacy Policy
Terms of Use
Copyright © 2023 Philadelphia Church of God, All Rights Reserved