Join our crew and become one of the 104,761 members that receive our newsletter.

Brazil To Finance Shipyard for Venezuela’s State Oil Company

Brazil To Finance Shipyard for Venezuela’s State Oil Company

Rob Almeida
Total Views: 7
June 8, 2011

CARACAS -(Dow Jones)- Brazil’s national development bank, or BNDES, agreed Monday to provide Venezuela’s state oil company with $637 million in financing for the construction of an oil tanker shipyard, according to Venezuelan state media.

Brazilian construction group Andrade Gutierrez will join Petroleos de Venezuela SA in building the facility, which will be located on the Araya Peninsula of Venezuela’s Sucre state. The shipyard will produce tankers for the delivery of Venezuelan oil to the Asian market.

The agreement was one of several announced Monday during a visit by Venezuelan President Hugo Chavez to Brazil. Chavez and Brazilian counterpart Dilma Rousseff had their first official meeting since Rousseff took office in January.

-By Ezequiel Minaya, Dow Jones Newswires

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up
Back to Main
polygon icon polygon icon

Why Join the gCaptain Club?

Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.

Sign Up
close

JOIN OUR CREW

Maritime and offshore news trusted by our 104,761 members delivered daily straight to your inbox.

Join Our Crew

Join the 104,761 members that receive our newsletter.