NewsWhore
12-19-2006, 03:50 PM
The government has announced that the PetroCaribe agreement with Venezuela has been renewed for 2007. Through the agreement the Dominican government postpones its payments of its fuel imports. The country is allowed to finance 40% of Venezuelan petroleum purchases, with a two-year grace period and 25 years to pay the bill, at an interest rate of just 1%. The DR has benefited from US$309 million worth of Venezuelan oil, equivalent to 11.8 million financed barrels. Each day the DR buys 35,000 barrels from Venezuela from a possible 50,000 that the country could buy. Hoy reports that the DR could begin to buy 45,000 barrels per day. Hoy also reports that the DR could also buy asphalt from Venezuela through the PetroCaribe agreement.
More... (http://www.dr1.com/index.html#6)
More... (http://www.dr1.com/index.html#6)