Petrosul, the Brazil-Argentina-Venezuela Joint Venture

The presidents of Argentina, Brazil, and Venezuela signed this yesterday a cooperation agreement in the energy sector creating the Petrosul. The agreement specifies partnerships between state-owned oil companies of the three countries, in projects of oil prospecting, refinery, and transportation, as well as ships construction.

The announcement was made by the President of Venezuela, Hugo Chávez, referring to Brazil’s Petrobras, Venezuela’s PDVSA, and Argentina’s Enesa.


According to Chávez, final details for the creation of Petrosul were discussed during dinner offered Monday, May 9, by President Luiz Inácio Lula da Silva, at his Granja do Torto residence.


Chávez says that one of the first challenges is to help Argentina recover investments on the recently structured Enesa. He adds that there are already specific projects that need to be defined in all three countries.


According to Brazil’s  Presidential Assessor for International Affairs, Marco Aurélio Garcia, in addition to Petrosul, the three presidents discussed financing options for the three state companies.


Garcia says that legal issues are being analyzed so that Brazil’s National Bank of Economic and Social Development (BNDES) can start to work on these loans.


Argentina’s Ambassador, Juan Pablo Lohlé, says that Argentina’s President, Nestor Kirchner, was satisfied with the Summit’s negotiations, and that his country is willing to keep supporting proposals for Petrosul.


Agência Brasil

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil’s Auto Industry Breaks Production and Export Records

Brazil’s automobile industry set production and export records for the month of April. Foreign ...

Brazil Offers Paraguay a Loan But Not a Better Deal on Electricity

Paraguayan president Fernando Lugo, who is visiting Brazil, and his counterpart host Brazilian Luiz ...

Police Tap on Brazil’s Senate Chief Gives Hope Scandal Won’t “End Up in Pizza”

When the British magazine The Economist published the article entitled “House of Horrors”, about ...

Brazilian Makes History in New York, Winning Marathon in Debut Race

Brazilian MarÀ­lson Gomes dos Santos, 29, surprised everybody and made history this Sunday, November ...

All Eyes on the Amazon

Scholars gathered at Dartmouth College to discuss Amazon issues such as human rights, cultural ...

Brazil’s Corruption Scandal Topples Almighty Chief of Staff

Brazilian chief of staff José Dirceu resigned Thursday to return to Congress and “defend” ...

Brazilian Bits and Pieces

Too much fuss about Lula putting on a baseball cap bearing the Landless Movement’s ...

Amnesty Warns: ‘Blood Bath Imminent in Rio’s Favelas’

Unless the authorities in Rio de Janeiro, Brazil, take immediate steps to restore order ...