SOURCE: Industrial Info Resources

May 20, 2008 07:00 ET

CNPC-PDVSA Joint Venture to Develop Refinery, an Industrial Info News Alert

BEIJING--(Marketwire - May 20, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- China National Petroleum Corporation (CNPC) (Beijing) signed an agreement on May 9, 2008, with Venezuela's PDVSA (Caracas) to jointly develop the Junin 4 block of Venezuela's Orinoco heavy crude belt. The agreement includes building a refinery at a cost of about $2 billion.

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