Venezuela is the 5th biggest oil export country in the world, and a member of OPEC. With rich reserves of crude oil, its average daily oil output reached 3.1 million barrels in 2004. Venezuela's state oil company Petroleos de Venezuela SA (PDVSA), the biggest oil company in South America, launched its China representative office in Beijing on 22 Aug. Ma Fucai, Vice Director of the State Energy Leading Group Office, and Rafael Ramrez, Minister of the Energy and Oil Ministry of Republic of Venezuela, attended the opening ceremony. Ramrez is the president of PDVSA at the same time. He said the opening of PDVSA China Representative Office is a sign reflecting a new start-point for the energy cooperation between China and Venezuela. Cooperation between oil companies from both countries will be strengthened as well. "The opening of PDVSA China Representative Office reflects a wholly new partnership between China and Venezuela in the field of energy cooperation. It will reinforce communication between the two countries, and play a role as a bridge to bring companies of the two countries closer." Ma Fucai said. He also believed that the oil industries of the two countries will cooperate more closely.
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