NewsWhore
06-30-2010, 02:20 PM
Last night, the Senate ratified in just one reading the sales contract for the sale of 49% of the shares in the Dominican Petroleum Refinery (Refidomsa) to Petroleos de Venezuela S.A. (PDVSA) for a sum of US$133.5 million. The contract was ratified after an hour-long debate by 18 of the 21 senators who attended the session that began around 3:30pm.
The PRD's Jesus Vasquez Martinez, Noe Sterling Vasquez and Pedro Alegria voted against the deal, which was signed in May. The three opposition senators rejected the approval of the contract after saying that it did not provide any long-term benefits for the country.
The contract now goes to the Chamber of Deputies for ratification or rejection.
The Dominican government has issued assurances that it will retain 51% of the Refidomsa shares, thus maintaining administration of the refinery.
Hacienda MinisterVicente Bengoa stressed that Venezuela would pay the US$133.5 million for the shares in cash. He added that the Dominican Republic would be discounting from the current invoice for the purchase of petroleum over a period of three months, beginning when the contract is finally approved and in effect. Bengoa had announced yesterday that the proceeds from the sale would go to pay arrears with power generators.
More... (http://www.dr1.com/index.html#4)
The PRD's Jesus Vasquez Martinez, Noe Sterling Vasquez and Pedro Alegria voted against the deal, which was signed in May. The three opposition senators rejected the approval of the contract after saying that it did not provide any long-term benefits for the country.
The contract now goes to the Chamber of Deputies for ratification or rejection.
The Dominican government has issued assurances that it will retain 51% of the Refidomsa shares, thus maintaining administration of the refinery.
Hacienda MinisterVicente Bengoa stressed that Venezuela would pay the US$133.5 million for the shares in cash. He added that the Dominican Republic would be discounting from the current invoice for the purchase of petroleum over a period of three months, beginning when the contract is finally approved and in effect. Bengoa had announced yesterday that the proceeds from the sale would go to pay arrears with power generators.
More... (http://www.dr1.com/index.html#4)