Chavez assures Paraguay to meet all its oil need

August 17th, 2008 - 1:48 pm ICT by IANS  

San Pedro de Ycuamandiyu (Paraguay), Aug 17 (IANS) In a bid to strengthen bilateral ties, Venezuelan President Hugo Chavez has assured Paraguay to supply it all the oil it needs to meet its crude shortages, EFE news agency reported Sunday. “We have signed the first commitment to supply Paraguay with all the oil it needs, right down to the last drop,” pledged Chavez Saturday during an event held in the town of San Pedro de Ycuamandiyu, about 318 km north of Asuncion, where he signed several cooperation agreements with his new Paraguayan counterpart Fernando Lugo.

Venezuelan regularly provides 70,000 cubic meters, or 440,300 barrels, of diesel to the Paraguayan market every month.

Paraguay, which produces no fossil fuels of its own, consumes 90.000 cubic meters (566,000 barrels) of diesel every month, with the remainder of the fuel coming from Argentina and Brazil.

At Saturday’s meeting, the two presidents signed several other agreements, including Venezuelan aid in the areas of food, trade and energy along with educational and social cooperation.

“We signed a group of accords and we want to carry them out to the letter beginning today, and may this be the first step in building a closer, more productive bilateral relationship,” Chavez said.

For his part, Lugo, a former Catholic bishop who Friday succeeded Nicanor Duarte in the presidency for a five-year term, expressed gratitude for the initiatives of the Venezuelan government.

“What we have signed today with the people of Venezuela, may it not be something that stays only in letters and good intentions,” he said.

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