(MENAFN) Venezuela and China's state-run oil companies intends joining together to boost oil output from Orinoco oil belt in South Eastern Venezuela, which have one of the world's largest oil reservoirs.
The Venezuelan government intends to export up to 1m barrels of oil per day to China.
This expansion plan includes improving the infrastructure of the oil belt between the two countries, to raise oil outputs to 275,000 barrel per day (bpd) from the current level of 170,000 bpd.
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