Reuters: China Concord Strengthens Oil Presence in Venezuela with Floating Platform in Lake Maracaibo
The arrival of the floating platform Alula in Lake Maracaibo marks a new chapter in energy cooperation between China and Venezuela. The project, valued at $1 billion and led by China Concord Resources Corp (CCRC) in partnership with Petróleos de Venezuela (PDVSA), aims to revive production in the Lago Cinco and Lagunillas Lago fields, with a target of 60,000 barrels per day by 2026.
