Petrobras & Venezuela Delay New Refinery Again.

WSJOURNAL/
Petrobras and Venezuela's Petroleos de Venezuela SA are having difficulties launching a troubled refinery joint venture, with the final agreement for the Abreu e Lima refinery in Brazil's Pernambuco state delayed again.
Lula da Silva and Hugo Chavez were expected to sign the deal over the weekend. But the failure was just another in a long line of delays, cost increases and controversies to weigh on the refinery in Brasil's Northeast.
"The project has been saddled with cost overruns and allegations of overcharges. Brazil's Senate started an inquiry into the refinery deal after allegations of fraud were uncovered by a separate police investigation."