China, Venezuela agree to speed up increased oil shipments

04/20/2009
Venezuelan President Hugo Chavez and his Chinese counterpart Hu Jintao, have agreed to bring forward the starting date of long-planned increased Venezuelan oil exports to the East Asian nation.Apart from advancing the date of stepped up exports, however, Chavez’s visit to China last week did not achieve any new break-throughs for his country, cash-strapped due to high social expenditures and the worldwide decline in oil prices over the past year.“I proposed that, given the global situation, we study the possibility, and we agreed to move up the target [date] set in the strategic accord for 2013,” Chavez said, adding that the extra shipments will begin in 2010.During his ...
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