Chavez says Venezuela will invest billions to help build Brazil refinery

Venezuela is prepared to provide billions of dollars to help build a Brazilian refinery that will process Venezuelan crude when it starts operating in 2010, Venezuelan President Hugo Chavez said Wednesday. Chavez told reporters he expects to sign a deal with Brazilian President Luiz Inacio Lula da Silva on Venezuelan investment for the refinery, but provided no details on operation of the refinery by the two countries' state oil companies. Chavez put the potential amount of Venezuelan investment in the refinery at US$4 billion (€2.55 billion).