Antigua: Venezuela Buys Stake in Oil Company

Antigua and Barbuda’s Prime Minister Gaston Browne (left) greets Venezuela’s President Nicolás Maduro (r). Image: Caribbean 360

Antigua and Barbuda’s Prime Minister Gaston Browne (left) greets Venezuela’s President Nicolás Maduro.
Google Images/Caribbean 360

Caribbean 360 is reporting Venezuela’s state-owned oil company Petroleos de Venezuela SA will buy a 25 per cent stake in Antigua and Barbuda’s West Indies Oil Company as the first of many “joint investments” between the countries, President Nicolás Maduro says. The article states:

“Caracas will also establish a regional bank with the twin-island nation to fund several projects, including a new Simon Bolivar Resort Hotel. Funds for that will come from the Petrocaribe program. Maduro announced those plans in Antigua yesterday, on one of the stops on his tour of the Caribbean that also includes Suriname, St. Lucia and Grenada.”

Venezuela will also fund an eye clinic in Grenada.

Read more at Caribbean 360.

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