OPEC

Venezuela Expands Downstream Involvement

Venezuela has announced three moves which will entail a significant expansion of its downstream oil involvement outside its borders. These are:

- Petroleos de Venezuela (PDV) is extending its partnership with Veba Oil of West Germany via the acquisition of a 50% share in Veba's interests in two refineries at Neustadt and Karlsruhe, as well as in the South European and Transalpine pipelines and an olefins plant near Neustadt. Under an...