NewsWhore
10-04-2007, 02:30 PM
Hacienda Minister Vicente Bengoa announced the renegotiating of the PetroCaribe agreement with Venezuela. Bengoa said the government will be financing 50,000 barrels per shipment, up from 30,000 barrels. The modification comes after petrol prices have increased.
Vicente Bengoa, Hacienda Minister, is in Venezuela negotiating the increases and was not able to give a timetable for when a new contract would be signed. Bengoa explained that in case world prices of petroleum increase to US$100 per barrel, Venezuela will finance 50% of the petroleum for the country, meaning that the DR would have to only make cash payments for US$50 per barrel.
According to Diario Libre the DR, in 2008, will begin to pay the petroleum that it has been receiving since 2006. The PetroCaribe agreement was signed in 2006 and allows Caribbean nations to receive Venezuela petroleum at preferential prices. The agreement also gives countries a two-year grace period to begin paying the capital and the interest on that petroleum. The countries have 25 years to pay the bills.
More... (http://www.dr1.com/index.html#3)
Vicente Bengoa, Hacienda Minister, is in Venezuela negotiating the increases and was not able to give a timetable for when a new contract would be signed. Bengoa explained that in case world prices of petroleum increase to US$100 per barrel, Venezuela will finance 50% of the petroleum for the country, meaning that the DR would have to only make cash payments for US$50 per barrel.
According to Diario Libre the DR, in 2008, will begin to pay the petroleum that it has been receiving since 2006. The PetroCaribe agreement was signed in 2006 and allows Caribbean nations to receive Venezuela petroleum at preferential prices. The agreement also gives countries a two-year grace period to begin paying the capital and the interest on that petroleum. The countries have 25 years to pay the bills.
More... (http://www.dr1.com/index.html#3)