Venezuela, Brazil Near $4.5 Bil. Refinery Deal

March 25, 2008

Brazilian President Luiz Inacio Lula da Silva and Venezuelan President Hugo Chavez are close to reaching an agreement on a $4.5 billion joint venture to build a heavy-oil refinery


Brazilian President Luiz Inacio Lula da Silva and Venezuelan President Hugo Chavez are close to reaching an agreement on a $4.5 billion joint venture to build a heavy-oil refinery outside Recife in the northeast region of Brazil, according to a report by Bloomberg (www.bloomberg.com).

The two countries have been close to reaching an agreement on the refinery several times before, with Venezuela reluctant to approve the refinery, which is scheduled to start output in 2011. The refinery was first proposed in 2000.

To read the full Bloomberg report on this story, click here.

Sponsored Recommendations

Learn About: Micro Motion™ 4700 Config I/O Coriolis Transmitter

An Advanced Transmitter that Expands Connectivity

Micro Motion™ G-Series Compact, Drainable Coriolis Flow and Density Meters

Micro Motion G-Series Coriolis flow and density meters are ideally suited for Process Monitoring and Optimization applications, offering easy selection with pre-selected models...

Learn about: Micro Motion G-Series Coriolis Flow and Density Meters

The Micro Motion G-Series is designed to help you access the benefits of Coriolis technology even when available space is limited.

Micro Motion 4700 Coriolis Configurable Inputs and Outputs Transmitter

The Micro Motion 4700 Coriolis Transmitter offers a compact C1D1 (Zone 1) housing. Bluetooth and Smart Meter Verification are available.