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Panama, Venezuela sign energy deal
Petroleumworld
CARACAS
Petroleumworld.com 06 24 06
Venezuelan President Hugo Chavez and Panamenian President Martin Torrijos agreed on th term were by Venezuela is to supply Panama with natural gas and petroleum in a deal signed by both presidents on Thursday.The Venezuela's energy deal is similar to those already signed with Uruguay, Argentina, Cuba, Brazil, Jamaica and Bolivia, providing them with petrol at low prices and special financing terms.
"Venezuela's petrol will serve the Venezuelan people and also Latin American nations," Chavez.
"We are willing to build a refinery in Panama, because at present our petrol reaches here via intermediaries who are getting rich as a result of this trade," Chavez added.
Chavez said the two countries will evaluate the creation of a joint venture to supply natural gas and fuel to Panama, while Colombia build a marine gas pipeline to the country.
Venezuela is the world's fifth largest oil exporter and has been the major supplier to the United States.
Petroleumworld 23 06 06
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