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Galp, Venezuela's PDVSA plan oil midstream JV to supply Portugal - CEO


Published : Tue, 18 Sep 2007 19:48
By : Agencies
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LISBON (Thomson Financial) - Galp Energia SGPS and state-owned Venezuelan oil company PDVSA are in talks to create a joint venture to supply oil to Portugal, Lusa news agency cited Galp's chief executive, Manuel Ferreira de Oliveira, as saying.

Ferriera de Oliveira said the agreement between the two companies is expected to be signed in October, adding that Galp would also like to be involved in exploration and production activities in Venezuela, the news agency reported.

The chief executive said Galp is aiming for the American continent to serve a third of its energy needs, with Africa and the Middle East serving the other two thirds.

jonathan.gleave@thomson.com

jg/cmr

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Copyright Thomson Financial News Limited 2007. All rights reserved.

The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

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