OREANDA-NEWS. July 28, 2014. In Caracas, the capital city of Venezuela, in the presence of the Chinese President Xi Jinping and his Venezuelan counterpart Nicolas Maduro, CNPC Vice President Wang Dongjin and PDVSA Vice President Asdrubal Chavez signed a new petroleum fuels sales and purchase contract on behalf of the two companies respectively.

According to the contract, CNPC affiliated China National United Oil Corporation will purchase additionally 100,000 barrels of fuel oil per day from Venezuela within the next three years since the date of signing.

Before the signing ceremony, Mr. Wang Dongjin had a talk with Mr. Rafael Ramirez, Venezuela's Minister for Energy & Petroleum and PDVSA President. They exchanged views on major issues in the oil and gas cooperation and strengthening the joint efforts between the two sides.