CARACAS (AFX) - Venezuela's state-owned oil company PDVSA is to invest close to 5 bln usd building three new refineries and increasing the capacity of two others, company president Rafael Ramirez said in an interview with Panorama de Maracaibo.
The investment is part of the group's plan to raise daily oil production to 5 mln barrels of oil a day in 2009 from the current 3.2 mln.
At least 60 pct of the 5 mln barrels wil be refined in the country.
Venezuela is the world's fifth largest oil exporter.
Earlier, PDVSA said it was to pay 2 bln usd to buy 40 oil tankers from Brazil to renew its fleet, according to Caracas daily El Nacional, citing a government official.
jsp/frb/po/bam
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved.
The copying, republication or redistribution of AFX News content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
AFX News and the AFX Financial News logo are registered trademarks of AFX News Limited
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
The investment is part of the group's plan to raise daily oil production to 5 mln barrels of oil a day in 2009 from the current 3.2 mln.
At least 60 pct of the 5 mln barrels wil be refined in the country.
Venezuela is the world's fifth largest oil exporter.
Earlier, PDVSA said it was to pay 2 bln usd to buy 40 oil tankers from Brazil to renew its fleet, according to Caracas daily El Nacional, citing a government official.
jsp/frb/po/bam
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved.
The copying, republication or redistribution of AFX News content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
AFX News and the AFX Financial News logo are registered trademarks of AFX News Limited
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
© 2005 AFX News
