CNPC-PDVSA Joint Venture to Develop Crude Belt and Refinery

BEIJING--May 20, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--China National Petroleum Corporation (CNPC) (Beijing) signed an agreement on May 9, 2008, with Venezuela's PDVSA (Caracas) to jointly develop the Junin 4 block of Venezuela's Orinoco heavy crude belt.