Venezuela and Brazil to Build Shipyard in Venezuela

The Venezuelan state oil company PDVSA yesterday signed a memorandum of understanding with Brazilian construction company Andrade Gutierrez SA to build a shipyard in Venezuela that would help maintain the 42 new oil tankers it intends to build by 2012.

This is all part of a wider diversification plan to reach new markets and to reduce the dependency on the international transport companies with their widely fluctuating prices,