Venezuela to receive US$250 million from China to boost oil production:

According to the Venezuelan Minister of Financewho is currently in Beijing for bilateral talks, China Development Bank will invest more than US$250 million to boost Venezuela oil production in the Orinoco Belt.“We’ve received the authorization for a direct investment of more than US$250 million from China Development Bank to increase PDVSA production, and we’re already putting together financing for a special loan for US$ 5 billion that China’s government is granting Venezuela for direct investments in production,” the Minister said.The two countries will sign an additional three or four financing deals in the coming weeks, he added.