PDVSA TARGETING ASIA, LATIN AMERICA IN NEW BUSINESS PLAN

Petroleos de Venezuela SA (Pdvsa) is targeting new markets in Asia and Latin America for its crude oil and refined products under a new 10 year business development plan. Pdvsa Pres. Gustavo Roosen sees relatively slim prospects for growth in the U.S. and Europe, where it is already well established. Accordingly the company must seek new markets with strong growth potential in order to place the 3.1 million b/d of crude and products it expects to be exporting by 2003.

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