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Venezuela, officially known as the Bolivarian Republic of Venezuela since 1999, was considered as one of the leading crude oil exporting countries in the world. The nation was universally familiar for having largest proven crude oil reserves in the globe. According to the OPEC report, Venezuela's crude oil deposits had registered about 98% of its export earnings. However, during 1998-2017, Venezuela's absolute oil production, including shale oil, crude oil, oil sands and NGLs (the liquid content of natural gas that was recovered separately), had declined gradually. In this entire time period, Venezuela had faced most sharp downfall of crude oil production, especially in 2016 and 2017 respectively. A number of factors such as relatively low worldwide crude oil prices, the mismanagement in the Venezuelan oil sector, the poor economic condition, dearth of enough cash amount for investment, inappropriate maintenance facilities, debt crisis, the US sanctions, the politicisation of Petroleos de Venezuela (PDVSA) and a brain drain had caused the downfall in oil production in Venezuela. In contrast, in an effort to stimulate the collapsing oil industry of Venezuela, China had come forward with massive financial package. Hence, China Development Bank had reportedly planned to invest around USD250 million in Venezuela's Orinoco Belt area. Such investment plan was part of China's financial assurance for investing approximately USD5 billion worth of capital in Venezuela. However, this financial injection did not ensure securing an absolute economic growth of Venezuela. So, would the Chinese investment be able to perk up Venezuelan oil industry's growth as well as improving the country's economy in future?