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Petrocaribe News


U.S. warns that if Venezuela ends oil subsidy for Caribbean, it can’t step in

With the opposition party gaining popularity in Venezuela’s elections, the U.S. is worried about the future of Caribbean countries that depend on the Petrocaribe program. Deputy National Security Adviser Ben Rhoder points out that even though the U.S. would be able to contribute and provide some resources, it won’t be able to substitute Venezuelan oil. by Franco…

Oil Prices and the Future of Petrocaribe

Oil Prices and the Future of Petrocaribe

Petrocaribe was originally created by Venezuela as a Cooperation Agreement for energy security among Caribbean and Central American Countries. In a decade 32% of the countries’ oil demand was met through this agreement. However, what happens when oil prices hit an all time low? Can Venezuela continue to provide stability to this mechanism? by Otaviano…

Obama To Address Caribbean’s ‘Economic Achilles Heel’ — Energy

President Obama and other dozen Caribbean leaders are meeting in Jamaica to discuss the region’s future. With oil prices going down and Venezuela’s economy in trouble the Caribbean will soon run cheap in oil, putting its future at great risk. The U.S. government intends to talk initiatives to prevent the region from economic hardship. Expert…

Oil price rout forces Venezuela to rethink petro-diplomacy

With oil prices being at half of the June numbers, Venezuela is currently rethinking the Petrocaribe subsidized oil arrangement in order to meet their financial debts and pay for imports.  Although Venezuelan president Nicolas Maduro is traveling the world to garner financial support very little details are coming to light about said agreements while in…

An Ailing Venezuela Trims Oil Diplomacy

An Ailing Venezuela Trims Oil Diplomacy

As Venezuela struggles with dropping crude prices, Caribbean and Central American countries are preparing for cutbacks in shipments of oil from the country. 13 beneficiaries of Venezuela, called Petrocaribe, have depended on Venezuela’s oil for the past decade. In return, they provide the country with diplomatic support on the international stage. by Ezequiel Minaya, The Wall…

RBC Caribbean economist: PetroCaribe countries paying more with lower oil price

Now that oil prices are lower, PetroCaribe countries are paying more for crude oil. Caribbean territories of Jamaica, Haiti and the Dominican Republic have been receiving close to, or in excess of, their full PetroCaribe quotas. These are the countries that will be the most significantly affected by an end to PetroCaribe shipments. by Aleem Khan,…

Uncertain Energy: The Caribbean’s Gamble with Venezuela

by the Atlantic Council, July 16, 2014 The Obama administration must quickly adopt a range of transformative policies to avoid an energy crisis in the Caribbean and Central America, given the possibility that Venezuela’s financial support for energy imports to the region could erode quickly, according to the Atlantic Council’s Adrienne Arsht Latin America Center’s…

Imports from Petrocaribe grow 394% over five years

Food purchases from the group gained 511% since 2008 EL UNIVERSAL, Monday March 24, 2014  02:28 PM The political and economic alliance between Venezuela and its 17 partners in Petrocaribe has been based on the supply of oil byproducts by Pdvsa, which has meant not only a significant dependence on Venezuelan oil of the Caribbean and…

Venezuela cuts back on PetroCaribe

Venezuela cuts back on PetroCaribe

Via the Guardian, published on Tuesday, March 11, 2014 Dispatches of crude and combustibles to Cuba decreased between 23 and 32 per cent and the cut for the other Caribbean and Central American countries was 14.8 percent in 2013 versus 2012. Figures for the delivery of crude and combustibles to Cuba and the other nations of…

Pdvsa supplies 43% of energy to 17 Petrocaribe Member States

21% of the oil bill 2013 was paid with food ERNESTO J. TOVAR |  EL UNIVERSAL, Monday March 17, 2014  10:07 AM Diplomacy of the governments of Hugo Chávez andNicolásMaduro, tapping on oil barrels to forge alliances and fasten political and economic cooperation, relies on Petrocaribe as an example of solidarity and complementarity arisen from commitments and obligations…

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