Beijing called Tuesday for safeguards for its interests in fields operated by Chinese companies such as Sinopec and CNPC.
The Daily Journal.- The Chinese government on Tuesday demanded protection for its interests in Venezuela following reports that, under the oil agreement between Caracas and Washington, U.S. companies could take control of several fields currently operated by Chinese companies, including Sinopec and China National Petroleum Corporation (CNPC).
According to Xinhua, Chinese Foreign Ministry spokesperson Guo Jiakun made the remarks in response to questions from reporters about the potential impact on China’s existing investments in the Caribbean nation.
“China’s legitimate rights and interests in Venezuela must receive protection,” he said, responding to reports about the new agreement promoted by President Donald Trump.
Guo also said that “China has always maintained that relations between countries should follow the purposes and principles of the UN Charter.”
He added that international law, as well as Chinese and Venezuelan laws, protects cooperation between the two countries.
The agreement, announced Friday, gives the United States control over more than 20% of Venezuela’s crude oil reserves, according to Acting President Delcy Rodríguez. The deal will run for 25 years and includes developing 17 strategic fields with a potential of 65 billion barrels.
With information from news agencies
