China gets heavy crude.
Exactly.
China needs oil from every source it can get. I am sure they have conditions on what the money will be spent on. It is similar to them investing in Canadian oil production and its shipment east to the BC border.
On a side note. I was in Aruba a couple weeks back. Every night the horizon was lit up with tankers waiting in Aruba waters before their appointment to fill up at the oil terminal in Venezuela. They will not venture into Venezuela waters until it is time for their appointment at the terminal. I guess they are scared of pirates, etc.