2005News

President worried about new costs

President Leonel Fernandez is worried about the news that the DR must now pay an additional US$200,000 for transportation of oil and its derivatives from Venezuela and the confirmed late shipments in recent weeks. Listin Diario reports that the President has ordered a series of measures to ensure that the Caracas and Petro-Caribbean Agreements are feasible. Fernandez’s reaction came about when he was leading an extraordinary meeting of the Administration Council of the Dominican Petroleum Refinery (Refidomsa), called with the purpose of overcoming inconveniences that might arise, and calming a public dispute involving energy sector officials, prior to the coming into effect of the Petro-Caribbean Agreement. The President decided to send another delegation of Dominican officials to Caracas next week to finalize the operations and marketing framework between Refidomsa and its Venezuelan counterpart, Petroleos de Venezuela, S.A.