Venezuela and China Hold Meetings

China will augment its already significant oil and financial presence in Venezuela, with the Asian giant and the oil-rich yet embattled Latin American nation discussing new ventures in the Orinoco oil belt, the largest concentration of crude oil known to man. Wednesday, a “high level” Chinese-Venezuelan commission met in Caracas, in which the parties “agreed to an expansion of commercial relations between both nations”, state oil company PDVSA informed Thursday. More…