Brazilian property owners boosted by oil deal
Brazilian property owners and business could get a boost after PdVSA and Petrobras said they plan to build a new oil refinery in the country.
The two companies said that they are close to a deal and plan to put something down on paper soon.
It is thought that a $12 billion (£7.5 billion) facility will be built, which could create jobs for those in Brazilian property.
Rafael Ramirez, oil minister for Venezuela and president of PdVSA, said: "This weekend we’re going to sign a joint declaration saying that everything has been resolved."
Petrobras said the facility would be a 230,000-barrel-a-day one, with Mr Ramirez saying PdVSA will put in $300 million initially.
Another boost came to Brazilian property owners this week, when pharmaceutical giant GlaxoSmithKline revealed it had secured a $2.2 billion deal with Brazil to create a pneumococcal vaccine for a ten-year period.
