BELARUS NEWS AND ANALYSIS

DATE:

15/03/2010

Venezuela to ship its heavy crude to Belarus

CARACAS, Venezuela

Venezuela plans to sell 80,000 barrels of heavy crude a day to Belarus under agreements aimed at strengthening commercial and energy cooperation between the two countries, President Hugo Chavez said Monday.

Chavez called the agreement an important step in strengthening ties with the government of Belarusian President Alexander Lukashenko.

He said it also will diversify Venezuelan oil sales, noting the deal gives the country an opening into the European market.

Venezuela's tar-like crude will be refined in Belarus and sold to European nations, Lukashenko said.

Lukashenko said Belarus also hopes to increase production at a joint oil-producing venture in Venezuela's petroleum-rich Orinoco region. The venture was established in 2007, when Lukashenko last visited Venezuela.

Chavez and Lukashenko share similarly hostile stances toward Washington.

Among earlier cooperation agreements they signed, Belarus is building 5,000 low-income homes in Venezuela. Chavez and Lukashenko plan to visit the housing site in central Aragua state Tuesday.

Source:

http://www.businessweek.com/ap/financialnews/D9EFDFGO0.htm


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