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Thursday, September 29, 2011

Caracas raises Dominican Republic’s oil quota to 50,000 barrels daily

The government of Venezuela announced Tuesday it will raise the supply of crude to Dominican Republic from 30,000 to 50,000 barrels daily through the Petrocaribe pact, which allows the country to buy oil on credit and with soft interests.

Venezuela Foreign Relations minister Nicolas Maduro delivered the message to president Leonel the Fernandez during a meeting in the New York Palace hotel.

The official, representing president Hugo Chavez the in 66th UN General Assembly, was accompanied by Dominican par Carlos Morales. He said he brought Chavez’s message exclusively to president Leonel Fernandez.

Maduro also told Fernandez that Chavez’s recovery is nearly complete with chemotherapy treatments to counter the cancer that affects him, and that he’s in good spirits.

“With this president Hugo Chavez not only ratifies Venezuela’s support for Petrocaribe, but also widens the amount of petroleum it provides to the country by around 20,000 barrels daily, because we are currently receiving only 30,000,” Morales said.

He said the Dominican government had sought the increase in Petrocaribe’s quota daily to increase the reserve and deal with higher international crude prices, “not to load the dices against the consumers. More than an increase which we sought was to reach the goal of around 50,000 barrels daily.”

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Source: Dominican Today

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