The Olefinas I and II plants will produce 1,500t/d of olefins for plastic resins, glycols and polyvinyl chloride among other products, according to an oil ministry statement.
Police in Andorra are probing claims that a cartel involving top Venezuelan officials funneled more than US$2bn from oil contracts. Meanwhile, Moody's warned that sinking foreign currency liquidity and a crude production freefall could drag the OPEC nation deeper into an economic abyss.
New allegations have emerged, meanwhile, concerning the Brazilian company's payments to a former Pemex CEO.
Jorge Glas was found guilty of unlawful association along with seven other individuals. The judges ruled that the accused colluded to obtain economic benefits from five strategic projects.
The petrochemical complex's UPGN will have capacity to process 21Mm3/d of natural gas, and is seen as vital for the country to absorb the growth in output coming from new pre-salt fields.