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LatinNews Regional Monitor: Andean Group - 09 August 2019

In brief: Venezuela and China cooperate to boost oil production

*Venezuela's de facto president, Nicolás Maduro, emphasised the importance of Venezuela’s alliance with China when announcing the beginning of the 'José' mixing plant expansion project, in the northeastern state of Anzoátegui. The project, which will add 165,000 barrels of oil per day to national Venezuelan production, involved a mixed investment between China’s National Petroleum Company (CNPC) and the US subsidiary of Venezuela’s state-run oil firm Petróleos de Venezuela (PDVSA) that exceeds US$1.86bn.

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