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Page added on September 30, 2005

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Oil tops South American summit agenda

Brazil and Venezuela have agreed to build a $2.5bn (€2bn) oil refinery, the highlight of a South American summit to boost trade and co-operation.

State-owned Petroleos de Venezuela (PDVSA) and Brazil’s government oil company Petrobras signed the agreement late yesterday, as the presidents of eight South American nations prepared to meet today in the Brazilian capital.

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