VENEZUELA
OIL PRODUCTION UP.
The state owned Venezuelan oil company, now have 174 off shore oil and gas rigs in operation as the output is increasing by the month. China are financing two new refineries in the country.
While most of the oil in Venezuela, is drilled on conjunction with foreign companies, the new deals signed with China, will not only increase exploration but mean that much of the oil will be refined in the country.
The government now own more than 50% of the oil rigs, this was done after the oil companies went on strike in 2003, in the hope of removing Hugo Chevaz from office.
The alleged CIA attempted coup backfired big time, giving Chevaz more power and caused monumental anti American sentiment in the country. Perhaps this should be qualified by stating, Anti Bush Administration sentiment.