Petronic seeks to replace Esso in Nicaragua as chief oil importer
Petróleos de Nicaragua (Petronic) has advised Congress it intends to become the main importer of crude oil through a preferential agreement with Venezuela.
Thursday, June 12, 2008
Petronic officials estimate "that in the second half of the year it will become the most important importer of oil in Nicaragua, surpassing Esso for the first time," said Francisco Aguirre, president of the Economic Commission of Congress.
The facilities, capable of storing 227.000 barrels, are located in Puerto de Corinto and Peñas Blancas, and will be inaugurated next week.
The Superior Council of the Private Enterprise is questioning the supposed "benefits" and "efficiency" of the oil agreement signed with Venezuela.
The figure corresponds to funds paid by Guatemala, Honduras, El Salvador, Nicaragua and Costa Rica over the last year for imported oil and its derivatives.
The conditions in Petrocaribe will never be the same: the new government of Venezuela will change preferential credit terms for the purchase of oil.
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