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Andean Group - January 2012 (ISSN 1741-4466)

VENEZUELA: Pdvsa refines its priorities

President Hugo Chávez has tried to re-orient Venezuela’s oil industry away from its traditional US reliance in line with his ‘alternative’ geo-political agenda. Critics of the strategy warn that the state oil company, Petróleos de Venezuela (Pdvsa), is losing global refining capacity as a result.

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