Word: petroqu
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Dates: during 1950-1959
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...Petroquímica seems destined not only to grow but to become a threat to foreign oilmen. Caldera is building a small (3,000 bbl. a day) oil refinery, plans to build a huge one (300,000 bbl. a day) in the industry's third phase. The fact that most refining of Venezuelan crude is now done elsewhere is a sore issue between the government and the foreign-owned companies. La Petroquímica's action in building refineries, which primarily make fuel rather than the raw materials of petrochemicals, is a clear statement that Venezuela intends...
...firms that are building the new industry include Italy's Montecatini, Germany's Uhde of Dortmund (an I. G. Farben subsidiary), Texas' Tif Co Inter America Corp. But the money and the management come strictly from the Venezuelan government. La Petroquímica's boss is Alberto J. Caldera, Director of Economy in the Ministry of Mines and Hydrocarbons. The venture puts the government, which already has investments in planes, ships, power and steel, deep into business. Caldera is outspokenly in favor of the trend: "We have the natural gas, we have the oil, we have...
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