http://www.granma.cu/ingles/2007/diciembre/vier14/alianza.html
Havana. December 14, 2007
Venezuela-Brazil strategic alliance
CARACAS (PL).- The strategic alliance between Venezuela and Brazil has
emerged today as an important element in the development of two of South
America's main economies, supported by their respective strengths and the
signing of new commercial agreements.
Brazilian President Luiz Inácio Lula da Silva's short visit to Venezuela
produced nine new agreements in the areas of health care, agriculture, food and
the oil industry.
Once again the energy component took center stage with the decision by
the state oil companies PDVSA (Venezuela) and PETROBRAS (Brazil) to create a
joint enterprise for the construction and operation of a refinery in the
Brazilian province of Pernambuco. Brazil will control 60% of the consortium.
The plant will have the capacity to process 200,000 barrels of oil daily
and will be supplied by PDVSA with up to 100,000 tons a day from the Orinoco
oil fields.
The Venezuelan company indicated that options remain open for further
participation by PETROBRAS in crude oil processing projects.
Joint work in the Carabobo Block I project has facilitated the
certification of 45.5 billion barrels of oil onsite.
Lula and Venezuelan President Hugo Chávez discussed the possibility of
establishing a binational investment fund, for supporting other joint ventures.
The new agreements, signed just days before the MERCOSUR Summit,
constitute a positive development strengthening the Venezuelan position in
support of regional integration.
Translated by Granma International .
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