After all that fuss couple years ago, did the Bahamas actually sign on with Petrocaribe? Check out the link below:


"Twelve of the fifteen members of CARICOM (Caribbean Community) plus Cuba and the Dominican Republic signed the agreement on 7 September 2005. The nations signing the agreement were Antigua and Barbuda, the Bahamas, Belize, Cuba, Dominica, the Dominican Republic, Grenada, Guyana, Jamaica, Nicaragua, Suriname, St Lucia, St Kitts and Nevis, and Saint Vincent and the Grenadines. "

http://www.itar-tass.com/eng/level2.html?NewsID=12866785&PageNum=0

Came across this on Bahama Journal Site as well:

"Delegates from Antigua and Barbuda, Bahamas, Belize, Cuba, Dominica, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Nicaragua, the Dominican Republic, St. Kitts and Nevis, St. Vincent and the Grenadines, St. Lucia, and Surinam have already confirmed their attendance"

http://www.jonesbahamas.com/?c=45&a=17758

After all that fuss couple years ago, did the Bahamas actually sign on with Petrocaribe? Check out the link below:
"Twelve of the fifteen members of CARICOM (Caribbean Community) plus Cuba and the Dominican Republic signed the agreement on 7 September 2005. The nations signing the agreement were Antigua and Barbuda, the Bahamas, Belize, Cuba, Dominica, the Dominican Republic, Grenada, Guyana, Jamaica, Nicaragua, Suriname, St Lucia, St Kitts and Nevis, and Saint Vincent and the Grenadines. "
http://www.itar-tass.com/eng/level2.html?NewsID=12866785&PageNum=0
I was about to ask the same thing.

No The Bahamas has not signed onto any agreement with Petrocaribe.

No The Bahamas has not signed onto any agreement with Petrocaribe.
Caracas.– Petrocaribe will hold an extraordinary summit meeting on July 7, possibly in Maracaibo, sources from Venezuela Oil (PDVSA) revealed yesterday.
There will be a previous meeting of experts, advanced the source clarifying that the venue has not yet been confirmed, in which should be analyzed the current situation of this sector suffering from high-prices due to speculation and dollar's weakness.
The extraordinary summit will evaluate current energy situation and look for methods to provide supplies stability and energy security of its members.
Petrocaribe terms allow funding 50 percent of the oil bill in 25 years and one percent interest, including a total fund for social programs besides infrastructure projects.
The meeting is also looking for coordination, joint energy policies including supplies of oil and its derivatives, gas, electricity, technological cooperation, training and increased use of alternate sources like eolian, solar and others.
Petrocaribe distributes about 140,000 oil barrels daily among its members and provides 800 million dollars total saving, according to recent reports from Venezuela Oil Vice president Asdrubal Chavez.
Founding members are Antigua-Barbuda, Bahamas, Belize, Cuba, Dominica, Grenada, Guyana, Jamaica, Dominican Republic, St. Kitts-Nevis, St. Lucia, St. Vicent and the Grenadines, Suriname and Venezuela.
http://www.dominicantoday.com/dr/economy/2008/6/21/28387/Next-Petrocaribe-Summit-to-be-held-in-Venezuela

That was the same info that I am finding on the web.....indicating that the Bahamas did sign on. Something is not adding up.....

Can someone get some word from our Government minister or PS?

Thanks:confused:

Wasn't it the word that Leslie Miller went of and signed the peice of paper from the lunatic Chavez before comming back to cabinet with it?

Well according to the Petrocaribe website, The Bahamas is a member

http://vcumbredepetrocaribe.menpet.gob.ve/index.php?tpl=interface.en/design/participantes/participantes_principal.html

See also http://www.pdvsa.com/index.php?tpl=interface.en/design/eventos/delegaciones_petrocaribe.tpl.html&newsid_obj_id=4988&newsid_temas=327

"The Bahamian Government signed the Petrocaribe Agreement on Energy Cooperation on September 6, 2005, and participates as another member in the effort to guarantee a stable power supply, socio-economic development, and the integration of Caribbean countries through the sovereign use of energy resources."

The Bahamas has not entered into an agreement with Venezuela to get oil from that country.

Will they sell us REFINED petroleum or their heavy crude?

Leslie Miller (without Cabinet consent) signed what they said at the time was a "document in principle" concerning Petrocaribe, but that the Cabinet had to approve membership to the same. Clearly Leslie committed the Bahamas to the grouping in some form, but the government at the time never disclosed what was signed.

Isnt disclosure grand?

Wasn't the Petrocaribe deal suppose to help cushion us against rising prices of crude oil from the other oil producing countries??

Will they sell us REFINED petroleum or their heavy crude?

IM seeing info to the regards of refinment, just a little peice from their website:

Venezuela proposes Petrocaribe to develop bloc Boyacá 3

Maracaibo.- President of the Bolivarian Republic of Venezuela Hugo Chávez recommended at the 5th Petrocaribe Summit of Heads of State and Government a strategic alliance among state companies to develop bloc Boyacá 3 at the Orinoco Oil Belt.

Upon the approval of the presidents attending the multilateral meeting, the head of state entrusted the ministers of Energy of member states with the execution of a preliminary study.

“In this way, supply for 50 years would be secured, because in each bloc reserves are estimated at 10-20 billion barrels of crude oil,” said the Venezuelan president.

A grand-national company would be responsible for the bloc and the oil extracted would be exported to Petrocaribe’s refining and distribution centers in Jamaica, Cuba and Dominica, among other countries, to meet the demand of crude oil and byproducts in the Caribbean and Central America.
He said also that those countries without experience in the energy field could send Venezuela young students for training in order to organize their own state oil company.

So it looks like Petrocaribe has a system here of refinment. If Borco was up perhaps Freeport could have been a distrobution centre at least, as the refining equipment is either beyond the condition in it's mothballed state to be restarted, or is simply too expensive to restart. But it was the Venezualans that sold BORCO in the first place.

A grand-national company would be responsible for the bloc and the oil extracted would be exported to Petrocaribe’s refining and distribution centers in Jamaica, Cuba and Dominica, among other countries, to meet the demand of crude oil and byproducts in the Caribbean and Central America.

I'm going to investigate this. Venezuelan oil is a heavy sulphur crude that is very difficult to refine. Refineries that can handleit are usually found in more industrialised nations.

Ironically the country with the greatest capacity to refine heavy sulphur is the US.


If we WERE going to buy it I'd rather Petróleos de Venezuela, S.A. just sell us the refined product ready for use as car fuel or propane. That way we could avoid the extra shipping costs.