Export of Venezuelan oil to China will be doubled

The President of China Xi Jinping arrived today at Venezuela for a state visit of 24 hours to strengthen partnerships between the Asian and the South American country.

During the visit of President Xi Jinping, the executive Vice President Jorge Arreaza, reported that they expect Venezuela sends one million barrels of petroleum by 2016.

Rafael Ramírez, Minister of Petroleum and Mining, confirmed yesterday that the goal is doubling exports of crude to China by 2016 to one million barrels compared to the more than half a million barrels currently sent.

The 524,000 barrels per day currently shipped to China last year accounted an income of 19.376 million dollars, compared with $ 580 million in 2005, when shipments of Venezuelan oil to China began with a volume of just 49,000 barrels, said Ramirez.