NewsWhore
07-08-2008, 05:30 PM
The DR wants 20,000 more barrels of petroleum from Venezuela per day as part of the PetroCaribe Agreement. The DR is currently receiving 30,000 daily barrels of fuel from Venezuela, 50% of which is financed. If approved, the country would be financing 25,000 barrels per day.
Hacienda Minister Vicente Bengoa said that the request would be made during President Leonel Fernandez's attendance at the PetroCaribe summit in Caracas this weekend. Fifteen other heads of state from PetroCaribe beneficiary nations in the Caribbean are expected to attend. The DR government recently purchased Shell's 50% share in the Dominican Petroleum Refinery, which means that the country can place a request for more fuel. However, Bengoa told El Caribe that the RD$500 million that would be released with the securing of the additional credit would not be enough to cover the subsidies if the price of oil keeps on rising. As part of the PetroCaribe Agreement, the DR is able to finance 50% of the fuel it receives from Venezuela with an interest rate of 1% and two year's grace, payable in 25 years. The country has the option of paying off the fuel bill with goods such as bananas, rice or sugar.
More... (http://www.dr1.com/index.html#9)
Hacienda Minister Vicente Bengoa said that the request would be made during President Leonel Fernandez's attendance at the PetroCaribe summit in Caracas this weekend. Fifteen other heads of state from PetroCaribe beneficiary nations in the Caribbean are expected to attend. The DR government recently purchased Shell's 50% share in the Dominican Petroleum Refinery, which means that the country can place a request for more fuel. However, Bengoa told El Caribe that the RD$500 million that would be released with the securing of the additional credit would not be enough to cover the subsidies if the price of oil keeps on rising. As part of the PetroCaribe Agreement, the DR is able to finance 50% of the fuel it receives from Venezuela with an interest rate of 1% and two year's grace, payable in 25 years. The country has the option of paying off the fuel bill with goods such as bananas, rice or sugar.
More... (http://www.dr1.com/index.html#9)