Beijing just moved another chess piece into the Western Hemisphere,

 https://x.com/iwasnevrhere_/status/1959796526428930465

Thomas Keith

@iwasnevrhere_

Beijing just moved another chess piece into the Western Hemisphere, not with a state oil giant, but through a private Chinese firm. China Concord Resources Corp has signed a rare 20-year pact to develop two Venezuelan oilfields, investing $1B+ to pump 60,000 bpd by 2026. It’s more than an energy deal. For Caracas it’s a sanctions-proof capital lifeline, locking in Chinese participation beyond state-to-state PDVSA ties. For Beijing it’s an asymmetric sanctions breach, a “private” operator planting a long-term flag in OPEC’s largest untapped reserves, where Western majors can’t touch.

11:54 AM · Aug 25, 2025

·

11.7K

Views

https://x.com/iwasnevrhere_/status/1959796526428930465