Venezuela begins lubes plant expansion after four–year delay

02 August 2012 23:59  [Source: ICIS news]

CARACAS, Venezuela (ICIS)--Venezuelan state oil company Petroleos de Venezuela (PDVSA) finally began work on expanding lubricants capacity at its plant at Centro de Refinacion Paraguana (CRP) following a four-year delay, a company employee said on Thursday.

The refinery is one of the largest owned by PDVSA and is located in the Falcon state in western Venezuela.

PDVSA initially announced plants to expand the plant capacity to 174m litres/year from 107m litres/year in 2008.

Construction began less than a month ago, an employee at CRP said Thursday, offering no reason for the delay and no date for completion.

PDVSA subsidiary Deltaven controls the Venezuelan lubricants market with a market share of around 40%.

CRP includes refineries (Amuay, Bajo Grande and Cardon), which straddle the neighbouring oil and gas rich states of Zulia and Falcon and are interconnected by hundreds of kilometres of pipelines. The Deltaven lubricants plant is located in the Cardon refinery.

CRP has total refining capacity of around 1m bbl/day.

Author: Carlos Camacho

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