China Concord Resources Corp (CCRC) is developing two oilfields in Venezuela with investment plans exceeding $1 billion and ramping up crude production to 60,000 barrels per day (bpd) by the end of 2026,

Beijing is likely to increase its economic support for Venezuela, its only all-weather strategic partner in South America, as tensions rise between Washington and Caracas. However, analysts suggest that China will hold back on direct military aid or actions that could provoke a direct confrontation with the United States.

China Concord Resources Corp has begun developing two Venezuelan oilfields, planning to invest more than $1 billion in a project to produce 60,000 barrels per day of crude oil by end-2026, an executive directly involved in the project said.

China reacted to the deployment of U.S. assets off the Venezuelan coast, saying it opposes "the use of force or threats in international relations"

Beijing's reaction follows US President Donald Trump's order to send 3 warships to intercept drug shipments off coast of South America, including near Venezuela - Anadolu Ajansı

The latest news and top stories on Yvan Gil, Venezuela's Minister of Foreign Affairs since January 2023. He previously held roles as Minister of Agriculture and Chargé d'affaires to the European Union,

Chevron regains license to operate in Venezuela as Trump shifts foreign policy, despite criticism from Secretary Rubio and concerns about benefiting Maduro's government.

US task force nears Venezuela, Israel eyes Gaza City assault, and more. It’s Friday, August 22, 2025. This is your SOFREP Morning Brief.