The country could return to Petrocaribe for its fuel purchase on credit, but not to the ALBA.
The minister of planning and external cooperation, Arturo Corrales said that the deal has already been signed (in 2008) and its just a matter of reactivating the mechanism.
The minister referred to the words of President Porfirio Lobo, "Petrocaribe is a commercial mechanism, strictly commercial, Alba, a political mechanism, No to the Alba ..., Yes to Petrocaribe."
It was announced that the Supremo Sueño de Bolivar (Bolivar’s Ultimate Dream) refinery will now be located on the Miramar coast and not in Nagarote.
The industrial petroleum complex project still has feasibility, environmental impact and viability studies pending.
According to Laprensa.com.ni, the president of Albanisa, Rafael Paniagua, said: "We have the location for a complex that would include the refinery and a port and it has 800 hectares in total. We are in the visualization phase of this project and the investment that we are going to make is on a loan basis under the terms of the Bolivarian Alternative for the Americas (ALBA).”
Under an agreement signed between the two state oil companies, exploration would begin in four weeks.
A delegation from PetroVietnam led by Dinh La Thang signed an agreement yesterday with Francisco Lopez, president of Petroleos de Nicaragua.
According to a report in plenglish.com, Lopez also announced that "petroleum technology transfer will begin immediately between the two countries to support the construction of the refinery being built in Nicaragua with the aid of Venezuela."
The drop in petroleum prices does not lessen Arias' intention to join PetroCaribe.
The PetroCaribe project created by Hugo Chaves in 2005 known as the "Alba energy platform" is about to gain a new member. Costa Rica has formally asked to join inspired by the payment terms that Caracas offers its 18 members in Central America and the Caribbean. Not even the international petroleum price drop has affected the Arias Government's interest and they will be given membership in December.
The ALBA Energy, Gas and Petroleum Gran-national Company will carry out the corresponding studies in the next few days.
"The ALBA Energy, Gas and Petroleum Gran-national Company will carry out the corresponding studies in the next few days, and, under the supervision of the Honduran State, will be able to carry out its production and commercialization plan" according to the document published by the local paper, Tiempo.