31 May 2013 23:57 [Source: ICIS news]
The investment programme will include $9bn earmarked for major projects at the 955,000 bbl/day Paraguana Refining Complex (CRP) in the northwestern state of Falcon, the company said.
A further $800m would be spent over the next six years on plant turnarounds at the complex and $150m in routine maintenance, it added.
The plans, which are expected to involve the participation of the private sector, aim to address ongoing problems at the country’s refinery network that have limited production and led to a huge rise in fuel imports.
PDVSA also revealed plans this week to activate its first petrochemical plant at the CRP in 2018.
The plant will capitalize on oil-based feedstock from the CRP’s integrated refinery system, which includes the Amuay, Cardon and Bajo Grande refineries, PDVSA said.
The project will be developed by Propilsur – a joint venture between Pequiven, the petrochemical arm of PDVSA, and Brazilian polymers major Braskem.
($1 = €0.77)
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