A Chavez Legacy? Venezuela to give Palestine a special deal on oil
OPEC member Venezuela has the world's largest proven oil reserves and produces up to three million barrels a day.
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Venezuela and thePalestinian Authority on Saturday signed agreements which include deals to sell oil to the occupied territories at a "fair price," Caracas said.
The accords were the result of a meeting between Venezuelan Foreign Minister Elias Jaua and his Palestinian counterpart Riyad al-Malki.
"It is an agreement of cooperation and solidarity with our oil industry... a sale of fuel at a fair price," Jaua said at a press conference.
The agreement also guarantees "favourable" repayment terms as well as training Palestinians on handling and distributing oil.
Malki, who is on a tour of Latin America, said he was "extremely satisfied" with the agreement.
During the 14-year reign of Hugo Chavez, who died of cancer in March, Venezuela used its oil wealth to shore up leftist governments across Latin America, most notably Cuba.
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