Peter Howard Wertheim
OGJ Correspondent
RIO DE JANEIRO, Aug. 10 -- Petroleos de Venezuela SA has signed a memorandum of understanding with Brazilian construction company Andrade Gutierrez SA to build a shipyard in Venezuela in support of the 42 oil tankers it intends to add to its fleet by 2012.
Venezuelan President Hugo Chavez wants to reduce his country's dependence on international transportation companies.
Venezuela currently has 16 tankers, which carry 12% of its crude exports. By 2012 it hopes to increase crude production to 5.18 million b/d from the 3.3 million b/d it reports now.
The shipyard's probable site will be in eastern Venezuela.