Storage tanks stand in a PDVSA state-run oil company crude oil complex near El Tigre, a town located within Venezuela’s Hugo Chavez oil belt, formally known as the Orinoco Belt China is lending its helping hand to Venezuela to stabilize the country’s oil sector, analysts told Sputnik, adding that Beijing’s economic activities in Latin America are apparently getting on Washington’s nerves. China is about to breathe new life into Venezuela’s collapsing oil sector regardless of Washington’s displeasure: On July 4, 2018, Bloomberg reported that the China Development Bank is going to invest more than $250 million in the country’s crude production. Liu Qian, analyst at the China Institute of Strategic Energy Studies, hailed Beijing’s move, stressing that Venezuela has long been one of China’s largest oil suppliers: “China’s direct investment of $250 million in Venezuelan national oil company [PetrĂ³leos de Venezuela, S.A.] will positively affect the stabilization of oil […]