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Monday, December 10, 2007
Venezuela, Latin America's biggest oil exporter, will build a fuel terminal in the island nation of St Kitts and Nevis as part of its effort to boost the oil infrastructure throughout the Caribbean. The project will begin in the first quarter of 2008 and will have a capacity of 34,200 barrels, state energy company Petroleos de Venezuela.
Venezuela's Petrocaribe program provides cheaply financed oil and fuel to poor countries in the region. The program has been stymied in some locations by the lack of receiving terminals. Nicaragua and the Dominican Republic are considering taking over refineries so they can accept more Venezuelan oil.
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