Venezuela’s state oil company and Los Angeles-based...
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Venezuela’s state oil company and Los Angeles-based Unocal Corp. have formed a joint venture to refine and distribute petroleum in 12 Midwestern U.S. states. A letter of intent is to be signed this week in New York, said Alan Humphreys, spokesman for the Petroleos de Venezuela SA affiliate Interven, which negotiated the deal. A final accord is expected next year, Humphreys said. A purchase price has not been determined, he said.
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