China to invest in Venezuela energy | Reuters.ca

China to invest in Venezuela energy | Reuters.ca: "CARACAS, Venezuela (Reuters) - China will invest around $5 billion in energy projects in Venezuela by 2012 as part of a plan to boost Venezuela's oil output, the South American country's energy minister told state television on Monday.

Venezuelan President Hugo Chavez just completed a visit to China to sign cooperation accords as part of an effort to reduce Venezuela's dependence on U.S. energy markets.

Rafael Ramirez said China's participation in Venezuela energy ventures would 'require in first instance around $5 billion in investment.'"