In China: Rafael Ramirez
Ramirez goes wooing in China
Venezuela's Energy Minister Rafael Ramirez has arrived in Beijing for talks with government and company officials on Chinese investment in Venezuela's heavy oil reserves.
Ramirez will visit China national Offshore Oil Corporation (CNOOC), China National Petroleum Corporation (CNPC) and Sinopec, as well as meet officials with state economic planner, the National Development & Reform Commission, and China Development Bank, people familiar with his itinerary told Dow Jones.
Ramirez' visit stems from Venezuelan efforts to fund development of its huge oil reserves and diversify sales away from its traditional main market, the US, including by boosting sales to China to 1 million barrels per day.
China Customs data show China imported an average of 105,000 barrels per day of crude from Venezuela in 2009, along with slightly less fuel oil.