$100 million, Chávez oil-storage project concludes its first stage

Alba Petróleos de El Salvador, an affiliate of the Venezuelan state oil company, PDVSA, announced the $100 million completion of the first stage of its fuel terminal, with a capacity of 300,000 barrels.

Alba launched the project at the port of Acajutla in western El Salvador. The terminal aims to supply 40 percent of the gasoline and diesel in the country.

The company was established through an accord with PDVSA as part of the Petrocaribe program that is promoted by the Venezuelan president Hugo Chávez.

Original source (in Spanish): Efe