UNION PACIFIC <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.