Pequiven, ExxonMobil complete olefins 1st stage
Bnamericas Published: Thursday, January 13, 2005
The Pequiven petrochemical subsidiary of Venezuela's state oil company PDVSA and US-based ExxonMobil Chemical Company have completed the first stage of their US$3bn olefins project at the Jose petrochemicals complex in Anzoátegui state, a Pequiven official told BNamericas. "Project control and integration has been defined," the official said. The project is one of the largest ventures in the petrochemicals field in more than a decade, the official said. The next stage of the project, which is the construction of the facility, could take one year, the official said, adding the facility should come on line by 2009. Pequiven and ExxonMobil Chemical are 50:50 partners in the venture, which will use olefins to produce polyethylene, glycols and other derivates.
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