Word: paraguanã
(lookup in dictionary)
(lookup stats)
Dates: during 2007-2007
Sort By: most recent first
(reverse)
...world's largest oil-refinery complex sits on an arid peninsula off the western coast of Venezuela. The Paraguan?? facility processes more than 700,000 bbl. of crude each day for the state-owned oil monopoly, Petróleos de Venezuela, S.A. (PDVSA), while tankers line up on the Caribbean horizon to ship it around the world. Towering burn-off pipes, as loud as jet engines, shoot flames above giant posters of President Hugo Chávez. His fist raised, he roars, "Of course...
...question is, Does he really want to? Last year the government announced a $280 million plan to upgrade Paraguan?? and increase its capacity to process Venezuela's abundant heavy crude from 50,000 bbl. to 130,000 bbl. per day. But workers say they have yet to see the project move ahead, and some complain the refineries are underperforming. "It's precarious," says a veteran supervisor. "The plant isn't living up to its original design because [PDVSA doesn't] want to cover the costs...
...this good or bad for Venezuela and the U.S.? The answer is yes. As oil nears a once unthinkable $100 a bbl., Chávez can afford to delay costly drilling and refining expansions like Paraguan??'s and spend that money on socialist programs and other political pursuits. In a bravado performance at a Nov. 18 meeting of the Organization of Petroleum Exporting Countries (OPEC), Chávez and his new best friend, Iranian President Mahmoud Ahmadinejad, mocked the U.S. and blamed the weak dollar, not Venezuelan production capacity, for the high price of oil. "The fall of the dollar...
| 1 |