BREAKING NEWS: China Installs First Floating Oil Platform in Venezuela’s Lake Maracaibo

China has successfully installed its first floating oil platform in Lake Maracaibo, Venezuela, in what observers describe as a major milestone in Beijing’s growing energy partnership with Caracas.. Read ..Full.. Article.. .

The platform, deployed this weekend, is designed to boost crude production from Venezuela’s largest oil reserve region and symbolizes the deepening strategic and economic cooperation between the two nations.

Lake Maracaibo, long considered the heart of Venezuela’s petroleum industry, has faced decades of underinvestment and declining output. With China’s intervention, analysts say the new installation could mark the beginning of a revival of Venezuela’s oil industry, while also strengthening Beijing’s foothold in Latin America.

The project is part of broader agreements signed between both governments, giving China access to Venezuela’s energy sector in exchange for infrastructure, financing, and technology support.

Energy experts note that the development could reshape global oil supply routes, as Caracas seeks to reduce reliance on Western markets while Beijing diversifies its energy, and..  Read . .More —