Tag Archives: Venezuela- PetroCaribe programme

VENEZUELA is hoping to resuscitate its PetroCaribe programme – By David Jessop

Venezuela- PetroCaribe programme. – By David Jessop

Against a background of surging global oil prices, the country’s gradual economic recovery, political change in Latin America, and a carefully crafted dialogue with the United States, Russia, China and Iran, Caracas is seeking to reposition itself as a swing energy state.

Responding to less-than-well-thought-through western sanctions following Russia’s invasion of Ukraine and their impact on the global prices of oil, gas, fertiliser, food, and transport, it knows that the gradual freeing of its enormous reserves of oil could make a difference to many nations.

Its actions suggest that if it can achieve an accommodation on sanctions with the US and European Union based on the west and others urgent need for new, lower cost sources of energy through geopolitical diplomacy, it will be able to relaunch its Caribbean and Central American concessional oil initiative.    Continue reading

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