The partners have understood this is a very good way to increase the return of their investment ... That is a very good incentive to sustain investment, the joint ventures are putting between $25-30 million a month (into Simadi). And PDVSA is putting about $50 million a month. So the amount is no more than $100 million a month today.

Del Pino

Categorized in : Energy

We didn't approve that because they didn't have the financing. by Del Pino

We didn't approve that because they didn't have the financing.

mergers-acquisitions

We would prefer to negotiate a fair value. It is a normal process... by Del Pino

We would prefer to negotiate a fair value. It is a normal process of negotiation.

mergers-acquisitions

We have five refineries in the Gulf of Mexico we own or share, most of the refineries were built there for medium-heavy oil. They are not adapted for the new light oil from fracking in the United States.

We are evaluating that (blending oil) to (perhaps) repeat it, maybe we are going to repeat it, but with a different type of oil. Maybe we can find a better blend. The ideal blend is the one that best serves the market.

We are proposing to blend oils from here with theirs, to go to th... by Del Pino

We are proposing to blend oils from here with theirs, to go to the market together.

It is a perfect complement of partners. by Del Pino

It is a perfect complement of partners.