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    market news

    Stoppage Planned at Venezuela Upgrader in 2012

    Investing News Network
    Sep. 29, 2011 03:16PM PST
    Oil and Gas Investing

    Reuters reported that Venezuela will stop its Petromonagas heavy oil upgrader in 2012 to upgrade the capacity by almost a quarter to 145,000 barrels per day.

    Reuters reported that Venezuela will stop its Petromonagas heavy oil upgrader in 2012 to upgrade the capacity by almost a quarter to 145,000 barrels per day.

    The market news is quoted as saying:

    Sergey Funygin, president of the local subsidiary of Russia’s TNK-BP, told reporters the stoppage was due to start in March or April 2012 and would last about a month.

    The stoppage fits with a broader plan of maintenance for the South American OPEC member’s four upgraders, which have been hit by failures and maintenance stoppages since 2009.

    Click here to access the entire news

    russiamarket newsheavy oilheavy oil upgrader
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