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Thursday, December 14, 2006

Brazil and Venezuela building oil tankers

CARACAS, Venezuela, Dec. 14 (UPI) -- Brazil and Venezuela have inked a deal to build 10 oil tankers, Venezuela's state-run oil firm and El Universal newspaper reported.

According to a statement Wednesday by Venezuela's state-run oil firm, Petroleos de Venezuela SA, the manufacturing of the ships will commence with the help of Brazilian shipbuilders Eisa and Maua Jurong.

The deal further strengthens petroleum ties between the two South American nations, whose state-run energy firms have already collaborated on a number of oil projects in recent years.

Venezuelan President Hugo Chavez has made clear his intention to bolster both greater energy and political cooperation in the region and in the last year promoted the creation of continent-long gas pipeline stretching from Venezuela to the tip of Chile.

Venezuela is the No. 1 producer of oil in South America.
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