PDVSA considers building three refineries

Petroleos de Venezuela SA is considering spending $10.5 billion to build refineries in Cabruta, Caripito, and Barinas with total capacities of 700,000 b/d, according to Alejandro Granado, PDVSA refining vice-president.

June 5, 2006

Peter Howard Wertheim
OGJ Correspondent

RIO DE JANEIRO, June 5 -- Petroleos de Venezuela SA is considering spending $10.5 billion to build refineries in Cabruta, Caripito, and Barinas with total capacities of 700,000 b/d, according to Alejandro Granado, PDVSA refining vice-president.

Granado also said the Venezuelan and Cuban governments also are working together to reactivate the island nation's Cienfuegos refinery, which has a processing capacity of 70,000 b/d.

Venezuela also is considering processing 50,000 b/d from the eastern Franja de Orinoco region at Uruguay's La Teja refinery, as well as building new refineries in Brazil through its alliance with Petroleo Brasileiro SA.