Venezuela announced Saturday that its
state-owned oil company will buy a 25 percent stake in West Indies Oil Co. and
that it will establish a regional bank with the Antigua and Barbuda government
to fund a new resort. The announcement came during a visit to Antigua by
Venezuelan President Nicolas Maduro, who was on a whirlwind weekend Caribbean
tour that included stops at three other nations — Suriname, St. Lucia and
Grenada. He was meeting with their leaders to discuss economic and social
development initiatives. Venezuelan officials said the regional bank would
finance the new Simon Bolivar Resort Hotel and other development projects using
resources generated by the Petrocaribe program, which provides low-cost oil
financing to Caribbean and Central American countries and invests in social
development projects. More…
Monday, October 19, 2015
Venezuela buys 25pc stake in Antigua and Barbuda oil company
Venezuela announced Saturday that its
state-owned oil company will buy a 25 percent stake in West Indies Oil Co. and
that it will establish a regional bank with the Antigua and Barbuda government
to fund a new resort. The announcement came during a visit to Antigua by
Venezuelan President Nicolas Maduro, who was on a whirlwind weekend Caribbean
tour that included stops at three other nations — Suriname, St. Lucia and
Grenada. He was meeting with their leaders to discuss economic and social
development initiatives. Venezuelan officials said the regional bank would
finance the new Simon Bolivar Resort Hotel and other development projects using
resources generated by the Petrocaribe program, which provides low-cost oil
financing to Caribbean and Central American countries and invests in social
development projects. More…
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