Tag Archives: Sinopec

Part IV: Another $6.5b in loans: The frustrated Beijing-Caracas courtship

(Greetings! It’s good to be back blogging.)  The common perception is that Chinese oil companies in Venezuela are winning big deals on very favorable terms.  However, as I’ve stressed in previous posts, Beijing is actually very frustrated not to be getting the deals it expects for new Faja heavy oil fields, especially considering its big investments in the Bolivarian state.  More evidence continues to emerge.

From 21-23 November the “10th Meeting of the China-Venezuela High-Level Committee” took place in Caracas at the Hotel Gran Meliá, with something like 400 businesses and state representatives coming from China.    Continue reading

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