Venezuela and China are strengthening their relationship through energy trade, announcing earlier this month a $10 billion project to develop the Faja del Orinoco region. According to energy-daily.com, this is part of a “continuing effort by Caracas to bolster ties between the two countries.”

The announcement is seen as Venezuelan President Hugo Chavez’s latest move to turn away from the U.S. and toward other nations, particularly those considered unfriendly toward Washington.

Venezuela currently relies on the United States to buy most of its oil exports.

That could change, however. Venezuela has already announced it will buy 13 oil rigs from China, and last year it concluded a $1.8 billion petroleum construction and equipment deal. Chavez also stated last year he wanted to double oil exports to China to 300,000 barrels per day.

Chavez’s anti-U.S. rhetoric has been a thorn in Washington’s side, but the South American strongman has thus far remained largely dependent on American importation of Venezuelan oil. With Chinese involvement in the Orinoco project, however, Caracas is taking more bold and enabling steps away from the U.S. Earlier this month, the Venezuelan state-owned energy company said that it would partner with a Chinese firm to build three refineries in China.

The Orinoco project alone will produce a maximum of 1 million barrels per day, according to Venezuelan Energy and Oil Minister Rafael Ramirez.

In his decade as president, Chavez has blasted the U.S. and the administration of President Bush, tied himself closely to Cuban dictator Fidel Castro, paid a state visit to Saddam Hussein, met with Libyan dictator Muammar Qadhafi, explored selling energy to North Korea, and strengthened his country’s ties with Iran.

Look for Chavez to continue attacking the United States not only through vocal insults, but also, more dangerously, by reducing oil deliveries. For more on Venezuela and its potential threat to the U.S. economy, read “Is Hugo Chavez a Threat?”