St. Lucia seals petrocaribe deal sealed
Caribbean News
St. Lucia
Petroleumworld.com 09 24 06
A delegation from Venezuela's state-owned oil company,
Petroleos de Venezuela, left St. Lucia late yesterday
for Caracas after finalising arrangements for the
delivery of oil to that island under the petrocaribe
agreement.
Earlier
this week PDVSA executives met Prime Minister Dr.
Kenny Anthony and representatives of Hess Oil St.
Lucia Ltd, fr talks on the delivery of the first
shipment under the pact, which will see regional
states getting oil on concessionary terms from Venezuela.
One
of the major hurdles to the start of delivery to
St. Lucia and some other Caricom member states had
been the shortage of storage locations for the oil.
Through
the petrocaribe agreement, PDVSA will provide the
island with approximately 1,700 barrels of oil products
per day.
This
represents some 62 per cent of St. Lucia's total
consumption.
Venezuela
is the world's fifth largest oil exporter and has
the largest oil reserves outside the Middle East.
Caribbean
News
September 23, 2006
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