Venezuela, China reach agreements on electric energy & oil
The agreements include the development of 900 megawatts of oil coke-based and carbon-based electric power, and new oil prospecting areas
"An agreement for the development of 900 megawatts of oil coke-based and carbon-based electric power has been entered into. New areas set for exploration, namely Junín 10 Sur, and the development of current fields have been agreed upon," Venezuela's Oil Minister Rafael Ramírez said, AFP cited.
The name of the company participating in the exploration of Junín 10, located in the Orinoco Oil Belt (55,314 km2 / 220,000 million of heavy oil) remains unknown.
Translated by Jhean Cabrera
José Vicente Rangel clearly said: "We are not conducting negotiations threatened with a gun in the head." He warned behind closed doors in the midst of the social upheaval occurred during the oil strike in 2002 and 2003. Dissenting Timoteo Zambrano answered back that no other option was available: "The thing is that otherwise, you do not negotiate."