UNION PACIFIC &lt;UNP>CLOSES VENEZUELAN PARTNERSHIP

  Union Pacific Corp said it has closed
  the previously announced 50-50 partnership with Petroleos de
  Venezuela SA, Venezuela's national oil company, to own a
  160,000 barrel per day refinery in Corpus Christi, Texas.
      Union Pacific said the partnership, called Champlin
  Refining Co, will acquire the refining and distribution system
  owned and operated by Union Pacific's Champlin Petroleum Co
  subsidiary. The Venezuelan company also signed a 25-year
  feedstock agreement with the partnership to supply at least
  140,000 barrels a day of Venezuelan crude oil and naphtha at
  market related prices.
  

