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Brazil's Petrobras: No Contact With PdVSA on Refinery Project Since February

Brazilian federal oil company Petroleo Brasileiro (PBR, PETR3.BR, PETR4.BR), or Petrobras, will continue to build a joint-venture refinery project despite no contact from Venezuelan counterpart Petroleos de Venezuela SA, or PdVSA, since the end of February, an executive with the Brazilian firm said Monday."We're not going to stop anything just because we don't have a position from PdVSA," said Jose Carlos Cosenza, director of Petrobras's refining division. PdVSA had until the end of February to provide loan guarantees and funds for the company's 40% share of the Abreu e Lima refinery under construction in Brazil's Pernambuco state.About 73% of the refinery has been completed, Mr. Cosenza said. The joint-venture project was designed to process about 230,000 barrels of crude oil per day, with Petrobras and PdVSA both supplying crude to the refinery. Petrobras holds a 60% share of the refinery.Should PdVSA not participate in the refinery, Mr. Cosenza said that Petrobras would supply the r...

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  1. Brazil's Petrobras Gives Venezuela Deadline for Refinery Decision -Report

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  5. Hess Has 4th-Quarter Profit; Refining Operations Turn Profitable

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  6. Hess Posts 4th-Quarter Profit; Refining Operations Turn Profitable

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  7. Hess exits storage, refining; fund may seek board seats

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  8. Hess Aims to Sell Terminals, to Close N.J. Refinery

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    The total cost of Russian oil giant OAO Rosneft's (ROSN.RS) deal to buy 50% of TNK-BP Ltd. from the AAR consortium of tycoons will be $28 billion plus interest at 3....

  10. Ecuador Negotiates With China's ICBC 70% Financing for Refinery Project

    QUITO, Ecuador--Ecuador is negotiating with Industrial & Commercial Bank of China Ltd. (1398.HK, 601398.SH, IDCBY) for 70% of the financing needed for the Refineria ...

  11. Exclusive: Venezuela Amuay refinery operations seen normal by year-end

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  4. Brazil Petrobras Expects Abreu e Lima Refinery Operations to Start by November 2014

    Brazilian state-run energy giant Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, expects the Abreu e Lima refinery project in Pernambuco state to start operations...

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