VENEZEULA - Part 4 - The Overseas Oil Refining & Marketing System.

Venezuela has an impressive downstream position in overseas markets, with oil refining, transport and marketing operations in the US, the Caribbean, other Latin American countries and Europe. No other OPEC member-state has built up a comparable external capacity. The state-owned Petroleos de Venezuela (PDVSA) now is keen on expanding into Latin America.

PDVSA and its partners have a refining capacity overseas of 2.995m b/d in five US refineries and 14 joint ventures and a leased plant in Curacao. This compares to an overseas capacity of 2.430m b/d at end-1997 and 2.17m b/d in 1996. With its domestic plants (1.302m b/d), PDVSA and its partners have a total refining capacity of almost 4.3m b/d.

               PDVSA'S OVERSEAS REFINING SYSTEM - 2001-05
                              ('000 b/d)

                                 Installed   PDVSA's     PdVCrudeSupply1
                                  Capacity   Share %     2005     2001

UnitedStates
  Lake Charles, LA                   320       100        140     190
  Corpus Christi, TX                 160       100        120     130
  Lemont, Ill                        160       100         40      60
  Paulsboro, NJ                       84       100         40      45
  Savannah, GA                        28       100         20      24
  Lyondell/Houston, TX               270        41.25     130     140
  ExxonMobil/Chalmette, LA           160        50         60      90
  ConocoPhillips/Sweeny Ckr, TX      258        50         40      57
  Needle Coker                        30        50         20      20
  Total USA                        1,270                  610     756
Europe
  Ruhr Ol/Gelsenkirchen, Germany     226        50         80     100
  Ruhr Ol/Neustadt, Germany          144        25         30      30
  Ruhr Ol/Karlsruhe, Germany         174        16.5       25      30
  Ruhr Ol/Schwedt, Germany           240        18.8       40      45
  Nynas/Nynasham, Sweden              25        50         10      12
  Nynas/Antwerp, Belgium              14        50          5       6
  Nynas/Gothenburg, Sweden            11        50          5       5
  Nynas/Dundee, Scotland              10        50          5       5
  Nynas/Eastham, England              26        25          5      10
  Total Europe                       870                  205     243
Caribbean
  A. Hess/St. Croix                  545        50        180     270
  Curacao (Dutch Antilles)           310     Leased       170     180
  Total Overseas                   2,995                1,165   1,349
  Total Domestic/Overseas          4,297                2,170   2,600

     1 Includes Venezuelan crude oils and other crudes bought by PDVSA.
     2 The 58,000 b/d coker at Sweeny went on stream in February 2000.