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Will Venezuela's petro-diplomacy survive?

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Please use this identifier to cite or link to this item: http://hdl.handle.net/1928/21173

Will Venezuela's petro-diplomacy survive?

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Title: Will Venezuela's petro-diplomacy survive?
Author: Inter-American Dialogue’s Latin American Energy Advisor
Subject(s): Latin America
Venezuela
Henrique Capriles
Hugo Chávez
fossil fuels
oil
petro-diplomacy
PDVSA
policy
energy cooperation agreements
PetroCaribe
debt
foreign policy
Cuba
economic reform
investment
industry
financing
Abstract: Henrique Capriles, the Venezuelan opposition leader running for president against Hugo Chávez, said on Aug. 1 that he would scrap preferential oil deals with foreign allies including Argentina, Cuba and others, Reuters reported. Capriles said the country would save $6.7 billion annually under his plan, money that he would use for domestic social spending. Meanwhile, state-run oil company PDVSA reportedly will need to set aside between $4 billion and $7 billion annually for the next five years to make payments on its heavy debt burden, analysts have forecast. Has Venezuela’s petro-diplomacy run the end of its course? Which countries would suffer the most from an end to PetroCaribe and Venezuela’s other preferential oil deals? If re-elected, will Chávez be able to maintain the agreements? How serious of a problem has PDVSA's debt burden become?
Date: 2012-08-13
Publisher: Inter-American Dialogue
Citation: Inter-American Dialogue’s Latin American Energy Advisor, August 13-17, 2012; pp. 1, 3, 6.
Description: Article re-posted as a PDF document with permission from the publisher as part of an Institutional Repository collection to aggregate Latin American energy policy, dialogue, white papers, reports, and educational materials.
URI: http://hdl.handle.net/1928/21173
Available at: http://www.thedialogue.org

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