Eluniversal quoted President Mr Hugo Chávez provide figures during a meeting with his Colombian counterpart Mr Álvaro Uribe said that Venezuela is currently supplying 40% of the crude oil it promised to sell to China by 2010. Pdvsa is shipping to date about 400,000 barrels of oil per day.

Official sources claim that about 250,000 barrels per days is supplied under a contractual obligation related to the strategic fund for development of heavy oil signed by the two countries.

During his recent tour of China, President Chávez promised the Asian leaders to ship about 1 million barrels per day of crude oil by 2010, in an attempt to diversify markets and reduce energy dependence on the United States.

Given the global financial crisis, Chávez suggested China to discuss the possibility for Venezuela to begin shipping 1 million barrels per day of crude oil to China as early as 2010. The original date set in the strategic agreement was 2013.

The latest official figures show that Venezuela exported to China about 380,000 barrels of crude oil, including fuel oil. However, according to figures from China's Customs Office, the Asian country is receiving about 130,000 barrels per day that is 4% of China's total oil imports.

Venezuela and China have boosted bilateral cooperation since 2008.

(Sourced from Eluniversal)