About 56 miles west of the Nicaraguan capital, Managua, a new refinery is being built. The project is a joint venture between PDVSA and Petronic.
The new refinery will be capable of producing 150,000 b/d.
Venezuela President, Hugo Chavez, said the new refinery will produce five fold what Nicaragua consumes, which means Nicaragua will be a net exporter of oil within five years.
