CARACAS, Venezuela, Dec. 8 (UPI) -- Brazil and Venezuela said they agreed to renew a memorandum of understanding for the construction of an oil refinery in Venezuela.
The Agencia Brasil Web site reported Friday that Thursday's deal -- signed by Brazilian President Luiz Inacio Lula da Silva and his Venezuelan counterpart, Hugo Chavez -- renews for another year the MoU for the construction of the Abreu e Lima refinery in Pernambuco.
Chavez did not say when the project would be complete, but said the refinery would bring another 200,000 barrels per day to the Faixa de Orinoco to be added to Brazilian crude.
"The important thing is that we have decided to speed up the completion of the refinery, which is very important for the two countries," he said after meeting with Lula, as the Brazilian leader is known.
