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Post by privateinvestors on Jul 13, 2011 20:10:49 GMT 4
Overhead costs have tripled
The most recent valuation of the project estimated total costs at USD 14.4 billion, according to newspaper O Estado de Sao Paulo. When the project was first agreed early in 2006, costs were estimated at USD 4.5 billionState-run oil company PetrĂ³leos de Venezuela (Pdvsa) wants to hire independent auditors to assess the cost of a joint refinery project in Brazil whose overheads have tripled since 2006, Brazilian newspaper O Estado de Sao Paulo said on Tuesday. Pdvsa officials have exchanged letters with their counterparts in Brazil's oil company Petrobras urging them to agree on independent oversight of the project, O Estado said, citing sources familiar with the situation. The most recent valuation of the project estimated total costs at USD 14.4 billion, according to newspaper O Estado de Sao Paulo. When the project was first agreed early in 2006, costs were estimated at USD 4.5 billion, Reuters reported. english.eluniversal.com/2011/07/12/pdvsa-wants-to-audit-joint-refinery-project-with-brazil.shtml
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