Venezuela to boost oil exports to China, India | india | Hindustan Times
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Venezuela to boost oil exports to China, India

Venezuela's state-owned oil company would like to boost its crude exports to China and India.

india Updated: Jul 11, 2006 08:38 IST

Venezuela's state-owned oil company Petroleos de Venezuela (PDVSA) would like to boost its crude exports to China and India, the state news agency ABN has reported.

The report cited Luis Vierma, PDVSA's vice president of exploration and production, as saying that the South American oil producer had "grand ambitions" to meet a growing demand from energy hungry states.

"It's important and a priority to negotiate new markets such as India and China," Vierma was quoted as saying.

He said exports to China, currently at 168,000 barrels per day, could be boosted to 300,000 barrels per day as Venezuela increases its output.

Vierma said Venezuela's oil production, currently assessed at some 3.