Arcaya & Asociados
June 01, 2007
Venezuela and Vietnam signed preliminary agreements for a refining venture in Vietnam and a joint venture to produce heavy crude in Venezuela's Orinoco belt, Venezuela's energy ministry said late Thursday.
Vietnam'sCommunist Party leader Nong Duc Manh visited Venezuela this week to meet Venezuelan President Hugo Chavez, who is creating new alliances as he seeks to reduce Venezuela's traditional dependence on U. S. energy markets.
The two nations agreed to launch studies for a refinery in Vietnam that would improve the Asian nation's fuel supply. The capacity of the refinery has not yet been determined.