Venezuela, Nicaragua
Create Joint Venture Oil
Firm
PDV Caribe, a branch of
Petroleos de Venezuela
and PETRONIC, a
Nicaraguan state
enterprise, created the
joint venture ALBA de
Nicaragua S. A. (ALBANISA)
Tuesday.
ALBANISA president,
Asdrubal Chavez, said
that the Venezuelan
participation is 55%
while Nicaragua's
participation if of 45%.
The firm will take
charge of supplying fuel
to Nicaragua,
constructing a refinery
there and amplifying the
electric power
distribution and storage
of hydrocarbons.
He said the decision is
part of cooperation and
economic complementation
with Nicaragua.
Chavez added that this
is in line with the
Venezuelan project to
share its oil with those
countries that do not
have it, but they have
other resources that can
be shared together.
He said that the studies
for the construction of
a refinery with capacity
to process 150,000
barrels of oil a day are
quite developed. |
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