PDVSA EYES TANKER, STORAGE CAPACITY HIKES

Petroleos de Venezuela SA (Pdvsa), Venezuela's state oil company, plans to increase its tanker fleet and foreign oil storage capacity. Pdvsa will buy more vessels to boost its export tanker capacity enough to handle 30% of Venezuela's exports vs. the current 14%. At yearend 1988, Pdvsa had 19 tankers with total capacity of 768,000 dwt. Pdvsa did not disclose details on how many or what kind of tankers it expects to buy or how it will expand foreign oil storage capacity.

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