Venezuelan Coup Disrupting Oil to Cuba

Via NY Transfer News * All the News That Doesn't Fit

Associated Press - May 16, 2002

Venezuelan Coup Disrupting Oil to Cuba

HAVANA, May 17 (AP) - Venezuela has not yet resumed shipments of
53,000 barrels a day of oil that Cuba received before the failed
April 11 coup against President Hugo Chavez, Basic Industry Minister
Marcos Portal said Thursday.

"It is possible that it will be re-established in the coming months,"
Portal told a news conference.

Under an October 2000 agreement between Chavez and Cuban President
Fidel Castro, Venezuela was supplying the oil to Cuba on special
terms, allowing it 15 years to pay and charging 2 percent a year
interest on amassed debt.

Venezuela signed similar agreements with other countries in Central
America and the Caribbean.

During the two days when Chavez briefly lost control, Venezuelan oil
company officials announced a series of changes that included an end
of oil shipments to Cuba.

05/16/02 23:14 EDT
(c) The Associated Press 

source - JosePertierra@aol.com
 
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