CORPOVEN PLANS BIG REFINERY IN E. VENEZUELA

Corpoven SA plans to build a 230,000 b/d refinery to process heavy Venezuelan crudes in eastern Venezuela at a projected cost of more than $3 billion. The unit of Venezuela's state oil company Petroleos de Venezuela SA is proceeding with plans to build the refinery without outside equity participation. Although parent Pdvsa is eager to find international partners in a variety of industry projects, the two companies flashed the project a green light to ensure Venezuela has the capability to

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