Chavez says Venezuela will invest billions to help build Brazil refinery

Venezuela's government is prepared to provide billions of dollars (euros) to help build a Brazilian refinery that will process Venezuelan crude when it starts operating in 2010, President Hugo Chavez said Wednesday. Chavez told reporters he would talk with Brazilian President Luiz Inacio Lula da Silva about how their nations' respective state oil companies would operate the refinery, but provided no further details. It appeared unlikely that the leaders would reach a deal on ownership and operation of the refinery immediately, as talks continued into Wednesday evening. A draft agreement outlined general terms that could lead to a firm deal within about two months, Brazil's Agencia Estado news service reported, quoting executive Paulo Roberto Costa of the state-run oil company Petrobras.