Monday, September 5, 2005
Two months after Barbados declined to sign the PetroCaribe oil agreement with Venezuela, the island's Government now agrees to look it over but not in its present form.
Energy Minister Anthony Wood said among some things Barbados needs answers on how PetroCaribe will affect its existing oil supply relationships. The island also wants to know how the work of a CARICOM task force on a regional energy policy will be affected.
Mr Wood says the ultimate question is whether Barbados' aim to have secure fuel imports at the most affordable prices would be best realised through a Petrocaribe agreement, that may not be complimentary to existing arrangements the island has with neighboring Trinidad and Tobago.
Caracas is offering to provide Caribbean countries with oil under flexible financial terms.
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