BELARUS NEWS AND ANALYSIS

DATE:

15/03/2010

Venezuela To Export 80,000 Barrels Of Oil Per Day To Belarus

CARACAS (Dow Jones)--Venezuela in May will start selling 80,000 barrels of oil a day to Belarus, the South American nation's president, Hugo Chavez, announced Monday.

Venezuela's leader made the announcement following a meeting in Caracas with Belarus President Alexander Lukashenko, who was in town to sign a variety of bilateral accords.

In a statement, Chavez said the agreement to supply Belarus with petroleum will be signed "in the coming hours."

According to the statement, Lukashenko said the plan is for the two countries to also refine Venezuelan oil together and eventually sell oil products throughout Europe.

Belarus has no hydrocarbon resources of its own, and depends on Russia for much of its energy supplies. It aims to diversify its energy imports to get products from Venezuela and elsewhere. Venezuela, meanwhile, has been looking to reduce its dependence on the U.S., the main buyer of Venezuelan crude, by increasing its sales to other nations.

-By Dan Molinski, Dow Jones Newswires;

Source:

http://online.wsj.com/article/BT-CO-20100315-714667.html?mod=WSJ_latestheadlines


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