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Article: PDV nears deal with Uruguay.(contracts of Petroleos de Venezuela S.A. and Administracion Nacional de Combustibles Alcohol y Portland)(Brief article)
- Article from:
- The Oil Daily
- Article date:
- August 9, 2007
CopyrightCOPYRIGHT 2007 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Venezuelan President Hugo Chavez said Tuesday that Petroleos de Venezuela (PDV) and Uruguay's national energy company, ANCAP, expect to reach an agreement to extract heavy oil from the Orinoco region of Venezuela.
The state-owned companies will form a joint venture company to pump oil from the Orinoco river belt, Chavez said, though he provided no timeline for when and how the company would be formed.
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