Brazil-Venezuela Joint Venture Will Make Brazilian Northeast Self-Sufficient in Oil

The construction project for an oil refinery in Industrial and Port Complex of Suape, in the metropolitan region of the city of Recife, capital city of the northeastern Brazilian state of Pernambuco, starts taking shape as of today, when the undertaking’s fundamental stone was launched by presidents Luiz Inácio Lula da Silva of Brazil, and Hugo Chávez of Venezuela.

The construction should start in 2007, according to the state’s government, which estimates that the undertaking will generate 10,000 direct jobs during the building phase and 1,500, when in operation in 2011.

The unit will have the capacity of processing up to 200,000 barrels of oil per day. The oil will be transported in ships both from the Campos Basin, in Rio de Janeiro (southeast of Brazil), as from Venezuela.

The idea is to supply the markets in the North and Northeast of Brazil with oil products, especially diesel oil, to reduce exports of these products.

The refinery received the name of Abreu e Lima in homage to the general from Pernambuco who fought for the independence of the Latin American countries like Venezuela, under the command of Simon Bolivar.

The refinery will transform heavy oil into products such as naphtha, gasoline, diesel, airplane kerosene and cooking gas.

According to Petrobras, the unit will produce fuels with less sulfur content and was projected to make the Northeast of Brazil self sufficient in oil products.

The construction will be financed together with Petrobras and the Venezuelan state owned oil company PDVSA.

Agência Brasil

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