China is demanding guarantees for its rights after a U.S. company secured a 100-year deal for Venezuelan oil. The demand came following reports that Caracas authorities granted concessions covering 17 oil fields with proven reserves of about 65 billion barrels.
The White House reported that Venezuela’s interim government awarded the concessions to North American Blue Energy Partners (NABEP), a U.S. firm and the country’s second‑largest private oil producer.
Statement by Chinese Foreign Ministry spokesperson
“China‑Venezuela cooperation is protected by international law and the laws of both countries. China’s legitimate rights and interests in Venezuela must be upheld,” Chinese Foreign Ministry spokesperson Gao Jiakun said in Beijing on Tuesday.
He added that “economic and trade cooperation between the two countries should follow the principles of equality, mutual benefit and win‑win outcomes.”
According to South China Morning Post
