Costa Rica negotiates terms for joining Petrocaribe
By joining the energy accord known as Petrocaribe, the country would be buying more than 20,000 barrels of petroleum per day from Venezuela.
Friday, September 26, 2008
The increase in the purchase of crude oil will depend greatly on the expansion of the credit and payment terms by Venezuela before negotiations are concluded. This request should be sent in the next few days in an official note to Venezuela.
The country could return to Petrocaribe for its fuel purchase on credit, but not to the ALBA.
Costa Rica will this week ask to be admitted to Petrocaribe, under which Venezuela offers financing of 60 percent of the nation's oil imports over 25 years, with two years of grace and a fixed interest rate of 1 percent.
The drop in petroleum prices does not lessen Arias' intention to join PetroCaribe.
Guatemala President Álvaro Colom has signed an agreement which would make Guatemala one of the recipients of energy from the regional initiative PetroCaribe.
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