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Latin America Investment News on Viva Tropical

Can Honduras Be a Part of Petrocaribe Again?

Article Summary:

President Lobo of Honduras has reiterated his desire for Honduras to be an active member of Petrocaribe. In January 2008, Honduras became part Petrocaribe Energy Cooperation Agreement when it proposed solidarity with the Venezuelan government, but following a coup d’etat of Manuel Zelaya of Honduras, Caracas canceled owed oil shipments as a show of condemnation. Now President Lobo wants those shipments to begin again.

Original Article Text From Prensa Latina via Google Translate :

Honduran President Reiterates Intention to Return to Petrocaribe

Honduran President Porfirio Lobo, reiterated his intention to return to Petrocaribe for the country has preferential payment terms of hydrocarbons, said a government statement, released today.

Following the coup d’etat Manuel Zelaya ruling in June 2009, Caracas canceled oil shipments as part of the condemnation of the military coup occurred in this Central American nation.

In the official note, Wolf stresses that he is delighted to return to Petrocaribe when Venezuela wants and needs are reserved funds owed to Caracas for deliveries during the administration of former President Zelaya.

Zelaya this week criticized the Honduran political sector for making a mistake by giving up the South American cooperation initiatives and opt only for disbursements MCA U.S. government. “Quitting the ALBA (Bolivarian Alternative for the Peoples of Our America) and Petrocaribe was a mistake, then stay with the Millennium Challenge Account and cancel it later,” lambasted the exmandatario, quoted on the eve by the newspaper El Heraldo.

The negotiations between Tegucigalpa and Caracas have advanced, Wolf after the visit of the Venezuelan capital, where he attended the Summit of the newly created Community of Latin American and Caribbean earlier this month. In this regard , President of the National Association of Industrialists (ANDI), Adolfo Facussé, advocated the return of the Honduran government to Petrocaribe.

“I invited the lords of Venezuela at a meeting in the ANDI, there we explained the scope of this program and passed, so to this day think it’s a necessary question, “said local Facussé the daily La Tribuna on December 6 last. In the opinion of the employer, pay $ 100 for oil will burst the Honduran economy, but Petrocaribe it spends 50 percent of the cost and the other percentage is used to invest in projects such as renewable energy.

In January 2008, Honduras became part Petrocaribe Energy Cooperation Agreement proposed solidarity by the Venezuelan government, in order to solve asymmetries in access to energy resources, by way of a new scheme of fair exchange between nations in the Caribbean region.

Tegucigalpa received by that mechanism 20 thousand barrels of oil, with payment of 50 percent of the invoice 90 days, and the rest in 25 years, with two-year grace percent interest a year. Antigua and Barbuda, Bahamas, Belize, Cuba, Dominica, Grenada, Guyana, Jamaica, Dominican Republic, Saint Kitts and Nevis, St. Lucia, Saint Vincent and the Grenadines, Suriname and Venezuela signed their admission to the regional organization, born on June 29, 2005 in the Venezuelan city of Puerto la Cruz. JVJ / rsm

Link to Original Article:

From Prensa-Latina

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