VENEZUELA MAY BUY THREE CZECH REFINERIES

Venezuela's government is considering buying three refineries in Czechoslovakia. Venezuela's government news agency announced the proposal after Venezuelan President Carlos Andres Perez and two top executives of state owned Petroleos de Venezuela SA met with Czech President Vaclav Havel in New York. Havel did not mention the proposed refinery deal and said he and Perez discussed possible oil sales to Czechoslovakia in exchange for Czech technology. Pdvsa did not confirm the proposed

Oct. 15, 1990

Venezuela's government is considering buying three refineries in Czechoslovakia.

Venezuela's government news agency announced the proposal after Venezuelan President Carlos Andres Perez and two top executives of state owned Petroleos de Venezuela SA met with Czech President Vaclav Havel in New York.

Havel did not mention the proposed refinery deal and said he and Perez discussed possible oil sales to Czechoslovakia in exchange for Czech technology. Pdvsa did not confirm the proposed purchase but is believed to be interested in further expanding its European downstream presence.

Czechoslovakia has seven state owned refineries with combined capacity of 455,000 b/d. Capacity of Venezuela's six refineries totals 1.2 million b/d in addition to Pdvsa interests in 1.5 million b/d of foreign capacity.

Meantime, Pdvsa unit Citgo Petroleum Corp. signed a letter of intent to establish a general partnership with Seaview Petroleum Co. LP, Blue Bell, Pa. Citgo will acquire 50% of Seaview's 84,000 b/d Paulsboro, N.J., refinery and asphalt business for an undisclosed sum (OGJ, Sept. 17, Newsletter.)