Venezuela agrees to supply oil, products to Costa Rica, Dominican Republic

HOUSTON, Nov. 12 -- Venezuela has signed separate agreements to supply Costa Rica and the Dominican Republic with oil and refined products as part of regional cooperation and integration between Latin America and the Caribbean.

The Costa Rica supply agreement followed renewal of the San Jose Oil Accord, which initially was signed in August 1980. In late October, Venezuelan President Hugo Chavez and Mexican President Vicente Fox agreed that Venezuela and Mexico each would supply 80,000 b/d of oil and products to Costa Rica, OPEC News Agency reported.

Separately, Venezuela signed a supply agreement to provide the Dominican Republic with up to 50,000 b/d of oil and products.

"We have relaunched the Caracas Energy Agreement, and we are committed to begin sending shipments of oil and products as soon as possible," the Venezuelan state news agency, Venpres, quoted Chavez as saying during a Nov. 6 news conference in Santo Domingo.


Oil&Gas Journal

who does he think he is, makin' these side-deals without approval?

viva chavez! if things on't start looking better here, i might be askin' for entry down there.