NewsWhore
07-15-2008, 03:00 PM
The Dominican Republic will invest in the exploration and exploitation of an area of the Orinoco River in Venezuela, an oil reserve with an estimated 235 billion barrels, says the Presidency. The state-owned Dominican Petroleum Refinery would be the investor for the Dominican government in the Petroleo de Venezuela (PDVSA) venture. Likewise, President Leonel Fernandez said that he had reached an agreement with President Hugo Chavez for Venezuela to participate in the exploration and exploitation of bauxite in the south western Dominican province of Pedernales. The bauxite would then be exported to Venezuela for processing.
The Presidency also announced that both countries would establish a strategic alliance to increase farm production in the country and strengthen local food security plans. Venezuela would provide technical and financial cooperation for purchasing fertilizer for farming. The plan is to generate a major surplus to be used to pay the oil debt with Venezuela, under the PetroCaribe Energy Agreement.
A bilateral agreement to fight drug trafficking was also signed during President Fernandez's visit to Venezuela to attend the PetroCaribe Summit.
President Fernandez returned yesterday from Venezuela.
More... (http://www.dr1.com/index.html#1)
The Presidency also announced that both countries would establish a strategic alliance to increase farm production in the country and strengthen local food security plans. Venezuela would provide technical and financial cooperation for purchasing fertilizer for farming. The plan is to generate a major surplus to be used to pay the oil debt with Venezuela, under the PetroCaribe Energy Agreement.
A bilateral agreement to fight drug trafficking was also signed during President Fernandez's visit to Venezuela to attend the PetroCaribe Summit.
President Fernandez returned yesterday from Venezuela.
More... (http://www.dr1.com/index.html#1)