Reintegration and the Spot Market
With Saudi Arabia and Nigeria on the hunt for downstream facilities and bothKuwait and Venezuela affirming their intention to expand their existingdownstream presence, the reintegration of the international oil industry is asubject which is currently attracting considerable attention. Last week thePresident of Venezuela's state oil group PDVSA, Dr. Juan Chacin, argued thatvertical reintegration could mitigate the inherent...
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