Venezuela is currently selling 200,000 bpd of oil as part of booming bilateral trade relations, Chinese Ambassador in Caracas Ju Yijie said Thursday.

"Oil sales are around 200,000 bpd and growing," Ju told reporters.

He refused to comment on the expected increase of Venezuelan oil shipments to China this year. Ju claimed it would depend on Venezuelan capacity to ship more oil, AP reported.

Venezuelan state-run oil firm Pdvsa recently said oil shipments to China could reach 300,000 bpd at the end of the year.

Venezuela, the world's eighth largest crude oil exporter, is seeking new markets to minimize dependence on the United States, currently Venezuela's largest customer.

Venezuelan authorities have set a goal to increase oil sales to China to 500,000 bpd by 2009-2010.

State firms China National Petroleum Corporation (CNPC) and China Petroleum and Chemical Corporation have investments in Venezuela at approximately USD 5 billion.

Ju also disclosed plans to build an oil refinery.

According to the diplomat, bilateral trade last year totaled USD 4 billion.