Honduras to Import
Venezuelan Oil
Authorities of Honduras
and Petroleos de
Venezuela S.A (PDVSA)
met to prepare first
purchases of Venezuelan
oil within the framework
of an initiative by
Petrocaribe.
According the minister
of the presidency,
Enrique Flores, both
parts define the
programming, calendar,
inspection and security
of the project.
Through an agreement
with Petrocaribe,
Honduras foresees
importing the entire
amount needed for its
thermal generators that
produce 70 percent of
electricity used in the
country.
The agreement includes
the purchase of 30
percent of the gasoline
and gas of domestic use.
Imports will be 20
thousand barrels a day
that have a price of
1.560 billion dollars
payable in two years.
60 percent is payable in
cash within the first 90
days and the remaining
40 percent is payable in
25 years with 24 months
of grace and an interest
of one percent.
According to Flores,
with the credits about
345 million dollars
derived from the
purchase of fuel oil,
small dams will be
built, the state
electricity company will
develop and agricultural
credits will be awarded
that directly benefit
the population.
Currently foreign
transnational companies
such as Texaco, Shell,
Esso and the local
Dippsa control the
internal market of oil
derivatives.
Asdrubal Chavez, PDVSA
vice president and the
ambassador in
Tegucigalpa, Claudio
Osorio, head the
Venezuelan delegation.
The executive director
of the Administrative
Commission of Oil, Lucy
Bu, the Energy minister,
Rixi Moncada and
international
consultant, Robert
Meyeringh, represent the
Central American nation,
for its part.
The agreement still
needs Congressional
approval that returned
it to the president last
Friday claiming formal
errors in the text
although it is expected
to pass in an
extraordinary session.
Petrocaribe is a
cooperation agreement in
energy proposed by the
Bolivarian government of
Venezuela to solve
asymmetries in access to
fuel through favorable,
equitable and fair
exchange among the
nations of the Caribbean
region.
Honduras was admitted to
the cooperation pact of
energy last December 22
during the 4th Summit of
Petrocaribe held in
Cienfuegos, Cuba.
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