Honduras Awaits Initial PetroCaribe Shipments

(Energy Analytics Institute, Ian Silverman, 13.Sep.2013) – Honduras does not expect to receive its first shipment of oil from Venezuela under PetroCaribe until Dec.2013, reported El Universal, citing Honduras’ Vice Minister of Commerce Melvin Redondo.

Venezuela will not be ready to ship the oil as originally planned due to the technical problems at its refineries, the newspaper said.

Under the PetroCaribe Initiative, Honduras will pay 60% of the petroleum bill in cash and finance the remaining 40% over 25 years at interest rates not to exceed 2%.

PetroCaribe is comprised of Antigua y Barbuda, Bahamas, Belize, Cuba, Dominica, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Nicaragua, Dominican Republic, Saint Cristobal and Nieves, Saint Vicente and Las Grenadines, Saint Lucia, Suriname and Venezuela.

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