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Venezuela to suspend oil delivery to some Caribbean countries

Venezuela's state owned oil and natural gas company, PDVSA, has announced plans to suspend petroleum deliveries to some Caribbean countries under its Petrocaribe agreement.
 
A report from Venezuela's Oil Ministry says the move comes as a result of falling crude production and low refinery utilisation.
 
Under the Petrocaribe agreement, Venezuela sells petroleum to Central American and Caribbean nations on favourable terms.
 
According to the Oil Ministry report, PDVSA is indefinitely suspending refined product deliveries to eight of the 17 countries that are covered under the agreement.
 
These are: Antigua and Barbuda, Belize, Dominica, El Salvador, Haiti, Nicaragua, St. Vincent and the Grenadines as well as St. Kitts and Nevis.
 
Venezuela started the Petrocaribe arrangement in 2005 with several Caribbean countries including Jamaica.
 
In November 2017, Energy Minister Andrew Wheatley said for more than a year, Jamaica had only received minimal or no crude products from Venezuela under the PetroCaribe agreement.
 
                                                                       


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