(source)Venezuela promises China expanded access to oil and gas

BEIJING (AP) - President Hugo Chavez said Friday that Venezuela will give Beijing greater access to its oil reserves to reduce his country's dependence on sales to the United States. Chavez said agreements signed Thursday on the first day of his visit to China will give Chinese oil companies access to 15 oil-producing areas in Venezuela, the world's fifth-largest petroleum exporter. China is eager to secure new sources of energy for its economy, which is struggling with power shortages. Venezuela wants to find new customers to reduce reliance on the United States, its No. 1 market but also a critic of Chavez's six-year-old government. "We have been producing and exporting oil for more than 100 years but they have been years of dependence on the United States,'' Chavez said at a meeting of Venezuelan and Chinese entrepreneurs. "Now we are free and we make our resources available to the great country of China.'' Venezuela sells 60 percent of its crude oil exports to the United States.

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Venezuela is offering to sell China fuel oil "to generate more electricity because we understand that some areas of China are short of electricity,'' Chavez said.

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