China and Venezuela Reach Oil Agreements

April 18, 2010 — China and Venezeula enter agreement to exploit oil and electricity opportunities. China to provide technology transfer and funds to develop the capabilities. China will provide soft loans worth $20 billion.

Oil Rich Venezuela hit by power crisis

Venezuela, South America's top oil exporter, is suffering from a growing energy crisis that has forced the government into taking drastic measures to conserve electricity.

As part of his plan, Hugo Chavez, the Venezuelan president, has declared a three-day holiday starting Monday to cut back on energy use.

Al Jazeera's Monica Villamizar reports from Caracas. (Mar 30, 2010)