China Venezuela relationship

amoy

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China signs 12 deals with Venezuela - China.org.cn

Among them, Venezuelan oil giant Petroleo de Venezuela SA reached a $1.4 billion deal with China Petrochemical Corp to develop Venezuela's Junin 1 heavy oil bloc, which will produce 200,000 barrels a day.

The country has also secured an agreement with China Development Bank on a $5 billion line of credit for social development.

The Export-Import Bank of China will lend Venezuela's state petrochemicals company Pequiven $390 million for the construction of a port.

Venezuela has also secured funding from Chinese banks for a mining survey around the country and has agreed with China's CITIC Group to move forward with gold mining projects in Venezuela's Las Cristinas deposits.
Venezuela, with 297 billion barrels of proven crude oil reserves, has surpassed Saudi Arabia to become the nation with the largest proven crude oil reserves in the world.As one of the main pillars of OPEC, Venezuela also takes an important role in ensuring China's energy security and balance.

Venezuelan Oil and Mining Minister Rafael Ramirez said earlier that Venezuela exported 626,000 barrels of oil per day to China in the first four months of this year and the figure is expected to reach 1 million barrels per day within two years. In 2012 China imported a total of 5.1 million barrels of oil per day from abroad.

Beijing is now Caracas' second-largest trading partner in Latin America. Bilateral trade was only $350 million in 2000, but it reached $23 billion in 2012 after the two sides initiated several multibillion projects.

Y-8 aircraft China exported to Venezuela Nov. 2012


 

amoy

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Venezuela armed forces take delivery of Chinese VN-1 8x8 armoured vehicles for its Marine Corps 160�-�Army Recognition

Venezuela armed forces take delivery of Chinese VN-1 8x8 armoured vehicles for its Marine Corps.

Venezuela takes delivery of Chinese-made VN-1 8x8 armoured vehicle personnel carrier (export version of Chinese ZBL-09) which will be used by the Marine Corps of Venezuela armed forces. Pictures released on the Venezuelan website FAV-Club | Historia y actualidad militar show the first vehicle delivered to Venezuela.


VN-1 8x8 armoured personnel carrier of Venezuela Armed Forces. (Credit photo FAV-Club | Historia y actualidad militar)

According a contract of 2012, Venezuela will also take delivery of Chinese amphibious armoured vehicles VN-18 (export version of ZBD-05), VN-16 (export version of ZTD-05), 81mm and 120mm self-propelled mortar carrier and SR5 122mm multiple launch rocket systems.

The Venezuelan VN-1 is fitted with a two-man turret armed with a 30mm automatic cannon and one 7.62mm coaxila machine gun. The vehicle can be also armed with one launcher for anti-tank guided missile HJ-73D, each side of the turret.

The VN-1 was unveiled for the first time to the public during the defense exhibition in Abu Dhabi, IDEX 2009.

The hull and the turret of the VN-1 is made of high hardness armor steel, which provide a protection against 12.7mm armour-piercing incendiary (API) strikes frontally at 100m, 7.62mm API on the sides at 100m and 7.62mm ball at the rear.

The VN-1 is fully amphibious, it can swim at a speed of up to 8 km/h. It is propelled in water thanks to two propellers fitted at the rear of the hull.

 

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