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Further delays seen for Abreu e Lima refinery

04/26/2010
By Eric Watkins
The start-up of Brazil's planned 230,000-b/d Abreu e Lima refinery, now under construction in Pernambuco state, has been delayed by another 7 months, according to an executive of state-owned Petroleo Brasileiro SA (Petrobras).Paulo Roberto Costa, Petrobras downstream director, said the launch had been set back to November 2012 from April 2012 as the firm had to repeat some processes to negotiate better prices for some of the refinery's systems. Petrobras is developing the $12 billion refinery under a joint venture agreement with Venezuela's state-owned Petroleos de Venezuela SA.Costa also noted that PDVSA has not yet paid the more than $400 million it owes as a first payment for its stake...
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