IHS Chemical Week

EnviroTech :: Regulatory

Venezuela Finalizes Petchem Plan

12:40 PM MDT | June 26, 2009

Venezuela’s National Assembly has finalized a law that will require petrochemical firms to sign joint ventures with state petchem firm Pequiven, which would take at least a 50% stake. The law is not expected to affect many private companies because most already are in partnership with Pequiven, but some analysts say it will discourage private investment in the petchem sector (CW, June 8/15, p. 8). The law will be accompanied by several measures to attract private investors, says Ángel Rodríguez, head of the National Assembly’s energy and...

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