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Brazil, Venezuela sign $13.5 bln refinery deal

11:01 31/10/2009

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MOSCOW, October 31 (RIA Novosti) - Brazil and Venezuela have signed a long-delayed deal on a joint venture to build and run an oil refinery in Brazil, Venezuela's Universal newspaper said on Saturday.

State-run Petroleo Brasileiro SA will hold a 60% stake in the firm and Petroleos de Venezuela will have the other 40% under a deal the two companied signed on Friday after four years of negotiations.

Brazil has already started the construction of the Abreu e Lima refinery estimated at $13.5 billion in northeastern Pernambuco state. The facility is expected to process 200,000 barrels of crude a day.

The agreement came during Brazilian President Luiz Inacio Lula da Silva's visit to Venezuela.

The Latin American leaders signed a host of other agreements on Friday, including on joint development of oil fields in Venezuela's Zulia state, cooperation in electronic equipment production, healthcare and sport, the paper said.

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<div style="border:1px solid #d3d3d3; padding:17px 0 0px 17px; background:#ffffff; width:510px;"><div style="width:100%; overflow:hidden;"><a target="_blank" href="http://en.rian.ru/world/20091031/156659908.html" style="text-decoration:none;"><img src="http://en.rian.ru/i/eng/logo_sml.gif" alt="RIA Novosti" title="RIA Novosti" style="float:left; margin-right:10px;" border="0" /></a><a target="_blank" href="http://en.rian.ru/world/20091031/156659908.html"><img src="http://en.rian.ru/images/15665/99/156659999.jpg" width="120" height="83" border="0" alt=" Brazil, Venezuela sign $13.5 bln refinery deal " style="float:right;padding:0px 15px 5px 0px;" /></a><a target="_blank" href="http://en.rian.ru/world/20091031/156659908.html" style="color:#000000;text-decoration:none;display: block; margin: 0 10px 0 0 ;"><strong style="font:19px Georgia,Arial,sans-serif; line-height:16px; font-weight:bold;">Brazil, Venezuela sign $13.5 bln refinery deal </strong></a><p style="font:13px Georgia,Arial,sans-serif; padding:5px 153px 0px 0;"><span style="color:#5590bf;">11:01</span> <span style="color:#5590bf; padding-right:7px;">31/10/2009</span> <span style="font-size:12px;">Brazil and Venezuela have signed a long-delayed deal on a joint venture to build and run an oil refinery in Brazil, Venezuela's Universal newspaper said on Saturday.<a target="_blank" style="color:#335f86; padding-left:10px; text-decoration:underline;" href="http://en.rian.ru/world/20091031/156659908.html" title="Brazil, Venezuela sign $13.5 bln refinery deal ">>></a></span></p><div style="padding:6px 0 15px 30px; font:10px Verdana,sans-serif;"><a target="_blank" style="color:#114472; text-decoration:underline;" href="http://en.rian.ru" title="RIA Novosti">Other news of the day</a></div></div></div>

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Brazil, Venezuela sign $13.5 bln refinery deal

11:01 31/10/2009 Brazil and Venezuela have signed a long-delayed deal on a joint venture to build and run an oil refinery in Brazil, Venezuela's Universal newspaper said on Saturday.>>

Other news of the day