The People’s Republic of China and Venezuela will invest $ 4,250 million in infrastructure and other developments in the oil field , including two projects for the extraction of heavy crude oil in the Orinoco Oil Belt . Planning Minister Ricardo Menendez said a refinery in the Chinese province of Canton will be built to transform 400,000 barrels of oil per day. Source Globovision
Japan logged a trade deficit last year for the first time since 2015, with export growth slowing amid tensions between the country’s two biggest trading partners – China and the United States. Source: Channel NewsAsia
Saudi Arabia is looking to invest in U.S. natural gas. The Kingdom is considering Tellurian’s proposed Driftwood LNG export terminal in Louisiana and Sempra Energy’s Port Arthur LNG facility in Texas. Source: Forbes
U.S. sanctions on Moscow are starting to hurt America more than Russia, the chief executive of Russia’s sovereign wealth fund told CNBC Wednesday. Source: CNBC
