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| CHINA PRESS:
Oil Imports From Venezuela May Nearly Double |
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BEIJING -(Dow Jones)- Venezuela may nearly
double its oil exports to China to 300,000 barrels a day from the current
168,000 b/d, the official people.com.cn Web site reported Monday, citing
an official from Petroleos de Venezuela SA (PVZ.YY).
The company was
in talks with China to increase its oil supply to the growing market as it
may boost oil production by nearly 2 million b/d in the next few years, a
vice president in charge of oil exploration and production was quoted as
saying, without elaborating.
He didn't say when the increase in
shipments would begin but added that the company is also in talks with
India on supplying it more oil.
The official said he doesn't expect
any increases in oil shipments to China or India to affect the company's
supply to the U.S., saying the U.S. market is likely oversupplied,
according to the Web site, which is backed by the official People's Daily
newspaper.
Venezuela exported an average 77,045 b/d of crude oil and
48,127 b/d of fuel oil to China in the first five months of this year, up
172.1% and 287.2% on year respectively.
Newspaper Web site:
http://www.people.com.cn -By China Bureau, Dow Jones Newswires; (8610)
6588 5848; [EMAIL PROTECTED]
-Edited by George Bernard
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