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

Nov. 12, 2004
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.

By OGJ editors
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.

The Dominican Republic and Venezuela had suspended their cooperative Caracas Energy Agreement in 2003 because of political differences. Venezuelan Energy and Mines Minister Rafael Ramirez said relations between the two countries have improved.