Venezuela's state-run oil company PdV will launch a tender to build and operate a 200,000 b/d extra-heavy crude production and deep conversion refinery complex in the Orinoco oil belt's Carabobo 1 block in the next few weeks.This will be the first new extra-heavy crude upgrader since foreign oil companies built the Cerro Negro, Petrozuata, Hamaca and Sincor upgraders in the 1990s at a combined cost of 17bn. The majority foreign stakes in these upgraders were nationalised on 1 May last year. The four upgraders - renamed Petromonagas, Petroanzoategui, Petropiar and Petrocedeno respectively - have a combined extra-heavy crude production capacity of around 600,000 b/d.
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