The Dominican Republic and Venezuela make a new deal
The Governments of the Dominican Republic and Venezuela announced Monday in Santo Domingo the renewal of Petrocaribe -an oil agreement whereby Venezuela provides the Caribbean island with 50,000 bpd.
The new deal "is a patent example of the positive way taken by the relations of both countries," said Dominican Minister of Finance Vicente Bengoa and Venezuelan Ambassador Francisco Belisario Landis during a press conference, Efe quoted.
According to Bengoa, the oil agreement helps to bolster both production and exports.
The instrument establishes 25-year funding at an annual interest rate of 1 percent.
Since 2005, the date of execution of the agreement, Venezuela has funded USD 309 million, for a total of approximately 11.8 million barrels of oil, Bengoa stated.
The new deal "is a patent example of the positive way taken by the relations of both countries," said Dominican Minister of Finance Vicente Bengoa and Venezuelan Ambassador Francisco Belisario Landis during a press conference, Efe quoted.
According to Bengoa, the oil agreement helps to bolster both production and exports.
The instrument establishes 25-year funding at an annual interest rate of 1 percent.
Since 2005, the date of execution of the agreement, Venezuela has funded USD 309 million, for a total of approximately 11.8 million barrels of oil, Bengoa stated.
posted by Alice at
Tuesday, December 19, 2006
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home