PetroCaribe Agreement to resume by month end
Press Release
October 7, 2022
PetroCaribe Agreement to resume by month end

Approximately 23,000 barrels of oil are scheduled to arrive in this country by month end under the Petro Caribe Agreement.

Speaking at a press briefing on Tuesday at Cabinet Room, Prime Minister Dr Ralph Gonsalves announced that the logistics are currently being finalized with the St Vincent Electricity Services (VINLEC) in terms of storage capacity.

“Assuming everything goes to plan…sometime before the end of this month, we should be seeing the first shipment of diesel back with the resumption of the Petro Caribe agreement,” Gonsalves said.

The Prime Minister said in a recent meeting with the Venezuelan Foreign Minister, certain arrangements and commitments made earlier this year are still being fulfilled.

In terms of other commitments including shipment of the fertilizer urea, as well as asphalt, Dr Gonsalves said it’s a question of shipping arrangements, and specialized shipping has to be organized to bring the asphalt.

“So, we are making progress on all the items, save and except the items dealing with the housing….it is still in the pipeline but I have had to discuss alternative with another country, a possible solution to some of the immediate pressing housing needs arising out of the volcanic eruption,” Gonsalves explained.

One hundred and fifty houses were to be contributed under arrangement through the Government of Venezuela but the company involved had reduced the extent of its production.(API)