VOL. XXX

NO. 24

23-MARCH-1987

OPEC AND OIL PRICES

Venezuela Acquires Share in Second US Refinery

On 17 March Venezuela's state oil company PDV signed an agreement with UnionPacific of the US setting up a 50-50 joint venture, the Champlin RefiningCompany, which will take over the 160,000 b/d Champlin refinery at CorpusChristi in Texas and the marketing and distribution networks in tensouth-eastern US states formerly owned by the Union Pacific subsidiary ChamplinPetroleum co. PDV is paying a total...