Volume 2, issue #7 - 12-03-1997

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Chilean refineries to invest over $ 250 mm

Mar. 4, 1997 Concon Petroleum Refinery (RPC) and Petrox will invest over $ 250 mm in the next five years in order to maintain their 80% share of the domestic market, according to RPC General manager Alex Avsolomovich. The two concerns, which are subsidiaries to the state petroleum company Enap and the only refineries presently existing in Chile, have budgeted a total of $ 50 mm annually over the next five years to increase refinery capacity from 14,500 cmpd to 17,500 cmpd, to shift production into high-octane and unleaded gasoline, and to increase production of liquefied gas destined for Regions IV and V.