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News from the Caribbean as of
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Venezuela to sell oil products to Belize
Tuesday, November 28, 2006
by Peter Wilson
CARACAS, Venezuela (Bloomberg): Petroleos de Venezuela SA, South America's largest oil company, will sell petroleum products, including gasoline and diesel, to Belize as part of Venezuela's PetroCaribe initiative.
Petroleos de Venezuela will sell Belize 4,000 barrels a day under the agreement, a spokesman for the Caracas-based company said in a telephone interview Monday. Petroleos de Venezuela will also sell Belize jet fuel and lubricants.
The value of the contract was not released. Petroleos de Venezuela also didn't say how the products would be distributed.
The PetroCaribe initiative offers the 13 members, including Belize, Venezuelan petroleum products on preferential terms that eliminate third parties. Member countries may pay for oil in goods and under subsidised financing.
Other PetroCaribe members include Jamaica, Cuba and the Dominican Republic.
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