Have a little respect says China and Russia before you take our oil concessions down Venezuela Way

Not so fast with that Venezuela agreement:

China Demands Respect for Venezuela Investments amid Oilfield Transfers to US-Controlled Operator

China has called for its “legitimate rights and interests” in Venezuela to be protected following reports that oil projects involving Chinese and Russian companies will be transferred to US-backed North American Blue Energy Partners (NABEP).

The corporation is set to receive long-term concessions for 17 oilfields holding 65 billion barrels of proven crude reserves. Five of the projects reportedly involve Chinese firms including CNPC and China Concord Petroleum, while another is believed to be operated by a PDVSA-Russian joint venture.

The Trump administration has presented the agreement as a victory for the Monroe Doctrine and says it will secure US energy dominance “for the next century.” China, meanwhile, called for Venezuela-related economic and trade relations to follow “equality and mutual benefit.”

The US factsheet says the concessions will last 100 years, while Acting President Delcy Rodríguez has said the agreement covers 25 years.

(This has only started … and nobody has spoken about these, although I knew of the sales of the concessions already years ago.  Why were they not worked?  Because of the sanctions.   Something else I know that nobody has said loudly enough.  😀  The six fields in the West of Venezuela (greenfields) have close to sweet crude, medium sour to medium sweet. and not the usual Venezuelan thick, sour and heavy crude).  The US does not have refineries for this feedstock and can only refine from the Orinoco Belt, the thick, sour crude).

The Western Region (Zulia & Lake Maracaibo Basin): The western fields do contain lighter and less viscous crude compared to the Orinoco Belt. These western grades (such as the newly marketed Blend 22) are primarily classified as medium sour to medium sweet.)

This has only just started.  China and Russia will not allow any working on their concessions that are done for the benefit of the dollar.