Petrobras and PDVSA to open 1,200 gas stations in Brazil in joint venture

Jul 25, 2000 02:00 AM

Petrobras and PDVSA will create a joint venture to open about 1,200 gas stations in Brazil, Deputy Venezuelan Foreign Minister Jorge Valero said. Valero said that the bi-national joint-venture could be the first step towards the creation of a multinational oil company.
The gas stations will use oil products from Venezuela, according to Valero, who said he invited Brazil's President Fernando Henrique Cardoso to participate in the chiefs-of-state summit of OPEC, to take place in September in Caracas.
The companies have not yet established a date to start the project. PDVSA will open an office in Rio de Janeiro and Petrobras will be present in Caracas by August.

Source: Bridge News via Newspage
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