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SANTO DOMINGO. – Treasury minister Vicente Bengoa announced Tuesday that Venezuela will pay US$131.5 million in cash for a 49% stake in the Dominican Republic’s only refinery, not later January 18.

He said there’s much confusion in the interpretation of the agreement reached with Venezuela Petroleum (PDVSA).

The official said as part of the Petrocaribe crude deal, Refidomsa is responsible for purchase of petroleum and its derivatives “and when it’s time to pay it does so through the Treasury Ministry.”

“What we are going to do, starting from the signature with PDVSA and until January 18, 2010, Treasury will remain with 100% of that cash, Bengoa said, adding that the fuel commitments with by Petrocaribe will barely reach US$20.4 million this year.

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COMMENTS
4 comment(s)
Written by: Blutarsky, 4 Nov 2009 9:08 AM
From: United States, Faber College Double Secret Probation
Pay today and then get out of town and dont come back or you will get an @ss kickin ......and the same goes for Hugo and when he comes charge them again
Written by: josean, 4 Nov 2009 11:58 AM
From: United States
"US$131.5 million in cash for a 49% stake in the Dominican Republic’s only refinery"

That will cover 5 plus years of the MERTO subsidy, good deal LIE-onel Fernandez!
Written by: Lucky_D, 4 Nov 2009 9:06 PM
From: United States
I'm sorry Blutarsky, but the dominican gov't. made a BIG mistake...Venezuela is an Oil-rich country and I assure you that PDVSA. in less than 10yrs will own 51% + of the shares.
Written by: Ricardolito, 4 Nov 2009 9:19 PM
From: Dominican Republic, la Romana
These terms of payment are entirely different to what has been reported for over the past 6 months ,,It had never been suggested that the payment would be by bank transfer so quickly .In the corrent eceonomic climate where the DR has a temporary liquidity problem caused by lower taxation revenue, this latest news is very welcome .
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