Venezuela to Sell Fuel Oil to China

Venezuela has signed a deal to supply China with 30,000 barrels per day of fuel oil as part of the OPEC nation’s efforts to expand trade with the Asian economic giant, state oil firm PDVSA said on Saturday.

“The first shipment of 1.8 million barrels sailed for China on Friday, June 17,” PDVSA said in a statement.

Venezuela and China signed a memorandum of understanding in January to promote energy and trade relations. Venezuela also has sold cargoes of heavy crude for asphalt production to China in recent months.
Reuters via iWon