Grenada receives first fuel shipment from Venezuelan oil initiative

[Chicokid]

ST. GEORGE'S, Grenada - Grenada received about 20,000 barrels of subsidized Venezuelan diesel on Thursday, part of an initiative by Venezuelan President Hugo Chavez that supplies low-cost fuel to more than a dozen Caribbean nations.

The shipment is the first Grenada has received since signing Venezuela's Petrocaribe accord, a 2005 supply agreement with Venezuela's state oil company, which promises the southern Caribbean island 340,000 barrels of gasoline, fuel oil and diesel a year.

This week's shipment will be used by Grenada Electricity Services Ltd., the sole power company on the tropical island of nearly 90,000 inhabitants.


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[CyberCat]

I hope we see a reduction in electricity bill as a result.