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Brazil, Venezuela see end to impasse over joint projects

06/08/2009
Major disagreements preventing joint projects by Brazil’s state-owned Petroleo Brazileiro SA (Petrobras) and Venezeula’s Petroleos de Venezuela SA (PDVSA) will be cleared up in 3 months, according to the presidents of the two countries.“I am optimistic we can deliver good news in 90 days,” said Brazil President Luiz Inacio Lula da Silva following his meeting with Venezuela President Hugo Chavez. “In that period we will be able to define all the details, not only of the [Abreu e Lima] refinery, but also of Petrobras’s participation in the Orinoco belt,” Lula said.Earlier in a private session accidentally broadcast to reporters, the two presidents e...
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