PdVSA to open first gas stations in north of Brazil en of year

Sep 11, 2001 02:00 AM

PdVSA (Petroleos de Venezuela) will open the first gas stations operating under its own name in the north of Brazil by the end of the year. This move is part of the company's strategy of gaining contracts to supply fuel to gas stations in the north, where it is going to buy a distribution base, and northeast of the country.
It also anticipates the freeing up of import restrictions on gasoline derivatives, which will allow the company to import quantities of diesel into the north and northeast.

PdVSA will not buy the gas stations, but will get exclusive contracts and invest in the growth of the chain, as it has done with success in the US with its 14,000 Citgo stations. The name of the company with which PdVSA is negotiating has not been released, nor the extent of investments.

Source: Valor Economico/SABI via Newspage
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