Central American and Caribbean Heads of States in Caracas to sign Energy Pact

Published October 19th, 2000 - 02:00 GMT

On Wednesday 11 Central American and Caribbean Heads of States were receive in Caracas by President Chavez to sign "The Caracas Pact of Energy Cooperation".  

 

The pact will be signed under a bilateral agreement with each country calls for Venezuela to supply oil to these nations, under favorable financial conditions the Jorge Valero Deputy Foreign Ministry said Wednesday.  

 

The 11 countries present on Thursday in Caracas to signed the pact are:Dominican Republic , Guatemala, Costa Rica, Panama, El Salvador, Jamaica, Haiti, Honduras, Nicaragua, Barbados y Belize. Barbados, Cuba will signed the pact on a later day and the signature of the pact with Guyana is under negotiations at the present .  

 

Any Central American and Caribbean nation can subscribe to the pact if so desire under a bilateral agreement with Venezuela. 

 

The pact oil quotas with each country will be fulfill within the OPEC present Venezuelan crude quotas. The pact calls for the following quotas of oil barrels a day (b/d) : Dominican Republic, 20.000 (b/d); Guatemala, 10.000 (b/d); Costa Rica (b/d), Panama & El Salvador, 8.000 Bpd; Jamaica 7.400 Bpd; Haiti, 6.500 (b/d); Honduras, 5.000 (b/d); Nicaragua, 4.900 (b/d); Barbados, 1.600 (b/d) y Belize, 600 (b/d). Jorge Valero Foreign Relations Deputy Foreign Minister Jorge Valero explained to the press in a press conference on Wednesday. 

 

The pact will be parallel to the San Jose Pact witch is in effect and calls for Mexico and Venezuela establishing favorable conditions to supply oil to Central American and Caribbean nations, the Caracas Energy Pact will supply an additional 80.000 oil barrels per day (b/d) to that 160.000 (b/d) that the San Jose Pact is supplying at the present to Barbados, Belize Costa Rica, Cuba, Guatemala, Haiti, Honduras, Jamaica, Nicaragua y Panama.  

 

The pact financial terms call to priced the oil barrel between $20 and $30 a barrel , include a credit line with a two-year grace period with a 15 years term and a 2 percent annual interest rate. Deputy Foreign Minister Jorge Valero said. 

(petroleumworld)  

By Elio Ohep 

 

 

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