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Dominican Republic Saves with PetroCaribbean
The Dominican Republic government has saved
about us$350 million dollars through a
PetroCaribbean agreement signed with Venezuela,
asserted Miguel Mejia, Secretary of State
without Portfolio.
Most of those financial resources have been
allocated to subsidize electricity of poorest
homes, explained the official.
However, benefits could be greater if the
Dominican Oil Refinery (Refidomsa) agreed to
import 55 thousand barrels daily allocated by
Venezuela in this agreement.
This quota is nearly 50 percent of 120 thousand
barrels daily, demanded by the refinery.
"But unfortunately, the 50 thousand barrels have
never been requested because of the big deficit
of the Dominican State and lack of a state
entity specialized in fuel management,"
regretted the official.
The country must create an institution with all
of those characteristics to deal with not only
management of PetroCaribbean agreement but also
prospecting for new possible oilfields.
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