Honduras, Venezuela
Boost Agreements
Honduran President
Manuel Zelaya announced
that his country and
Venezuela will boost
agreements related to
the PETROCARIBE
initiative during the
official visit his
Venezuelan peer Hugo
Chavez started on
Monday.
He also announced that
both governments will
develop energy
cooperation agreements,
with the objective that
this country imports 100
percent of its crude oil
from Venezuela and 30
percent of gasoline and
diesel for internal
consumption.
PETROCARIBE is an
initiative of President
Hugo Chavez, through
which countries without
their own hydrocarbon
sources receive oil at
preferential prices and
in soft financial
conditions.
Honduras was accepted,
during the 4th Summit of
that pact held last
month in Cuba, as the
17th member State of the
mentioned cooperation
entity, which had been
boosted by Venezuela
since 2005.
According to he
agreement, called by
Zelaya as a new option
that opens doors to fuel
supply, this country
will cancel 60 percent
of the of the account in
cash and 40 percent in
23 years, at a 1-percent
interest rate.
After entering
PETROCARIBE in December,
Zelaya explained that
his government had
planned to buy
Venezuelan oil for
around $350 million
annually and that the
agreement includes
aspects as management,
transportation, and fuel
distribution.
Venezuelan Foreign
Minister Nicolas Maduro,
Energy and Oil Minister
Rafael Ramirez, and
Communication and
Information Minister
Andres Izarra will
accompany President
Chavez during his visit,
which will last until
Tuesday.
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