PDVSA projects $53 billion in outlays for 10-year plan

Petroleos de Venezuela SA has unveiled its latest 10-year business plan, which calls for capital outlays of over $53 billion.The plan would almost double the Venezuelan state oil company's crude oil production and boost its exports of oil to the US.In keeping with a mandate from the administration of Venezuelan President Hugh Chávez, the goal of the overall plan is to strengthen and enhance PDVSA's role both in the world energy market and in the economic development of Venezuela. The latter was a key point of the Chávez platform when he was running for president in 1998. Click here to enlarge imageMore than half the expected investment will come from the private sec...

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