Chavez signs a series of energy co-operation deals with China
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  • Venezuela, one of the world’s largest oil producers, was seeking new markets to reduce its dependency on exports to the United States. It has therefore decided to increase oil exports to China with President Hugo Chavez stating that the total exports to China could rise threefold by 2012. Other plans in the country include joint projects to build three oil refineries capable of processing Venezuela's heavy crude oil1.

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