00:00Meanwhile, China is demanding that its interest in Venezuela be protected
00:04after a U.S.-backed company was given control of oil projects
00:08previously operated by Chinese and Russian firms.
00:11Beijing's foreign ministry says that its economic cooperation with Caracas
00:15is legally protected under both international and bilateral law.
00:22The company, North American Blue Energy Partners,
00:25is expected to take over 17 oil projects across Venezuela.
00:30Five of those projects were previously operated by Chinese companies,
00:34including Sinopac and China National Petroleum Corporation.
00:38Under the deal, the United States will take a 35 percent stake
00:42in North American Blue Energy Partners' parent company.
00:46Washington will also get preferential access to a fifth of the oil produced by the projects at cost.
00:53U.S. President Donald Trump has called it the largest oil deal in history,
00:57saying the arrangement could open the door to about 65 billion barrels of Venezuela's proven oil reserves.
