Pequiven aims for recovery after glum 1998

07/26/1999
Petroquímica de Venezuela SA (Pequiven) has outlined a plan to reverse its poor performance record in 1998.Pequiven suffered a net loss of $65 million last year. But the petrochemical subsidiary of Venezuelan state oil firm Petroleos de Venezuela SA was given new growth goals under Pdvsa`s revised 10-year business plan (OGJ, June 28, 1999, Newsletter).By 2008, the company aims to raise overall output to 22.8 million metric tons/year, global sales to $4.5 billion, and exports to $2.6 billion. This will require an investment of $8.4 billion, said Pequiven Pres. Eduardo Praselj.A difficult yearThe Pequiven chief described 1998 as "a particularly difficult" year for the global petroche...
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