Post-Chavez Venezuela to strengthen ties with China

Mar 18, 2013, 11:10 AM EDT
This December 13, 2002 photo shows a view of an oil refinery of the PDVSA Venezuelan oil company in the oil port of Tia Juana, Venezuela,
AFP/Getty Images

Venezuela's acting president, Nicolas Maduro, seeks to fortify relations with China. Asia's first economy is Venezuela's biggest source of foreign funding by pouring billions of dollars to the country's oil reserves. The biggest Chinese energy company, China National Petroleum Corp (CNPC), is a key part of Venezuela's efforts to tap its enormous Orinoco extra heavy crude belt, one of the planet's largest hydrocarbon reserves. April 14 elections will indicate the future of the strategic alliance.