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China and Venezuela Partner in New Oil Venture

Written by Subject: Venezuela

China and Venezuela Partner in New Oil Venture

by Stephen Lendman (stephenlendman.org - Home - Stephen Lendman)

Along with Russia and other countries, China rejects unlawful US sanctions war on Venezuela — maintaining normal bilateral relations.

On Thursday, Venezuelan President Maduro announced a joint venture between state oil company PDVSA's Sinovensa subsidiary and China's National Petroleum Corp (CNPC). 

Thanking Beijing for cooperating with the Bolivarian Republic, countering the Trump regime's sanctions war, he tweeted:

"Extraordinary News! The first phase of the expansion of the 'Jose' Mixing Plant in the Anzoátegui state began, which will incorporate 165 thousand barrels of oil a day into national production. A mixed investment with our Chinese brothers that exceeds $ 1,860" billion.

China has a 49% ownership stake in Sinovensa. The joint venture will blend Venezuelan extra-heavy crude with lighter oil to produce what's called medium-grade Merey.

Venezuelan Oil Minister Manuel Quevedo said the joint venture will increase refined oil production from 125,500 to 220,000 thousand barrels a day. 

Russia and Venezuela also maintain normal relations. Maduro earlier announced bilateral "cooperation in economy, trade, culture, energy and education" with Moscow – including ways to increase Venezuelan oil exports.

Russia is also providing hundreds of tons of humanitarian aid, mainly vitally needed medicines, its efforts vital to foil Trump regime actions to topple Maduro and eliminate Venezuela's social democracy.

China's Foreign Ministry slammed the Trump regime's illegal embargo on the Bolivarian Republic, spokeswoman Hua Chunying saying Beijing intends continued cooperation with the country, defying illegal US sanctions.

On August 7, Bloomberg News reported that China's Wison Engineering Services Co. contracted to "repair Venezuela's main refineries in exchange for oil products including diesel, according to people with knowledge of the deal," adding:

The project is expected to last up to a year. Like other establishment media, Bloomberg supports illegal US sanctions on all its targeted countries.

It bemoaned the notion of Venezuela being able to restore the operational efficiency of its fuel production, saying it "would weaken the US economic blockade and put Maduro in a stronger negotiating position as talks with the opposition drag on without any visible progress."

Like other major media, Bloomberg ignored the illegality of Trump's sanctions war, saying nothing as well about Venezuela's preeminent social democracy — supporting Washington's illegal imperial agenda, instead of denouncing it.

The Trump regime "so far shied away from military intervention in Venezuela and has instead imposed economic sanctions that target the oil industry and key members of the government and the military," Bloomberg noted, adding: 

"American officials continue to project confidence about replacing Maduro with a pro-business administration despite the lack of progress."

Venezuela is very "pro-business." Earlier during a period of economic strength, including higher oil prices, private banks in the country said they were having a "party" — meaning they were making lots of money.

The Bolivarian Republic earmarks most of its revenues to providing social services for all its people, including heavily subsidized food for needy families.

Separately, UN high commissioner for human rights Michelle Bachelet, a fierce critic of Bolivarian social democracy, an imperial tool most often, criticized the Trump regime's embargo, saying the following:

"(T)he new set of unilateral sanctions imposed by the US (on Venezuela) are extremely broad and fail to contain sufficient measures to mitigate their impact on the most vulnerable sectors of the population," adding: 

"I fear that they will have far-reaching implications on the rights to health and to food in particular, in a country where there are already serious shortages of essential goods."

Since taking office in September 2018, she failed to denounce the Trump regime's illegal sanctions war on Venezuela's economy and population.

She said nothing about the US plot to topple its democratically elected and reelected government. Nor did she condemn the treasonous fascist opposition or the Trump regime's plot starve Venezuelans into submission.

Her days earlier concern rang hollow. Her mandate is supporting US-led Western viciousness, including its wars of aggression, not denouncing them.

Doing the right thing would get her replaced with a more convenient US stooge, doing its bidding.

Bachelet remains on the job for fulfilling the role of US-led Western puppet.

A "political solution" in Venezuela she called for starts with world community condemnation of the Trump regime's all-out war on the Bolivarian Republic and its people by other means.

Neither she or UN secretary general Guterres has the moral courage to do the right thing.

They and other top world body officials support US imperial rage over world peace, equity and justice — disgracing the positions they hold by being complicit with US, NATO, Israeli high crimes against peace.

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My newest book as editor and contributor is titled "Flashpoint in Ukraine: How the US Drive for Hegemony Risks WW III."

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