Peak Oil News - Venezuela's Chavez to buy Chinese K-8 planes

Venezuelan President Hugo Chavez said on Sunday the OPEC nation will buy Chinese military training planes, expanding recent arms purchases and further cementing a growing relationship with China. Chavez in recent years has stepped up purchases of weapons and planes. Washington accuses the self-styled revolutionary of carrying out an arms spending spree that could destabilize the region. Venezuela and China on Friday signed an accord to build a refinery on Chinese soil as part of a broader plan to reduce Venezuela's reliance on U.S. energy markets.

Reuters